Why buy an investment property in Melbourne?
Victoria’s population is projected to reach 6,600,000 people by 2051. That is an increase of 1.5 million people (or 30%) from its current population of 5,128,000. Melbourne, Victoria’s capital city is the most populated area within the state with a current population of 3,744,000.
The state government has implemented the Melbourne 2030 strategy to assist in coping with the large surge in population and has identified key areas where we are likely to see development of housing and infrastructure.
Victoria occupies only 3% of Australia’s total landmass, yet accounts for 25% of the nation’s economy. The State has enjoyed an average growth rate of 3.6% over the 10 years to 2005-06. With AAA credit ratings from both Standard and Poor’s and Moody’s Investor Services, Victoria has one of the strongest and most resilient economies in the world
Melbourne, the city itself, is well-designed and located amidst parklands along the banks of the Yarra River, just a few kilometres from Port Phillip Bay. With the sea to the south and mountains to the north, the city offers something for everyone.
Melbourne has a vibrant intellectual and cultural centre and a creative and entrepreneurial soul. It has extensive parks and gardens, spacious suburbs, affordable housing, good education, accessible public transport and a modern road system. With a low crime rate, it provides a safe and healthy environment in which to live and work.
In terms of entertainment, Melbourne has a plethora of cosmopolitan cafes, restaurants and clubs, a vibrant arts scene and world renown sporting events.
Melbourne continues to be rated one of the best cities in the world for expatriates to live in according to a survey conducted by the London based Economist Information Unit. The survey takes into account over 40 factors, across five categories: stability, healthcare, culture & environment, education and infrastructure.
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Property Investment Melbourne