Highlights For The Melbourne Property Market This Month

– Investors are very active in Melbourne’s eastern suburbs, in particular Overseas Buyers in Glen Waverley. Typically due to Glen Waverley Secondary College’s academic reputation among the local and Chinese communities and the practicality of being near a major transport hub and shopping centre.
– Melbourne CBD town planners have approved the construction of over 20,000 apartments within the next 4 years compared to approximately 5,500 in Sydney’s inner city over the same future period
– The Melbourne unit market remains strong for Investors and the residential investment market is predicted to become stronger and is only at the early stages of growth
– Despite this, the RBA has concerns and HTW view the risk of a downturn in the Melbourne unit market as high with the potential problem of an oversupply of units within the CBD and inner city areas
– The mid-south eastern and Bayside regions appear to be attractive for investors who are fairly active and purchasing detached houses, townhouses, units and apartments
– The outer south east regions appear to be mainly attractive to first home buyers and families with
medium household income. Investors are much less active in these regions
Thanks to team Alphabroker www.alphabroker.com.au