The Melbourne property market has always been closely following Sydney as the fastest growing around the country – and the lovely region around Brunswick is a fantastic place to buy property for your next investment.
Whether you are looking to turn over the first page in your portfolio or add to an already established one, investors should always be looking to take advantage of growing populations and cities. Melbourne is one such city.
A report from McCrindle Research suggests that by the year 2056, the population of Melbourne will exceed 9 million and become the biggest city in Australia – overtaking Sydney. We're not really surprised, given the incredible array of cultures and fantastic events that seem to never end. But will investors take advantage of this information and snap up property in Brunswick?
The CoreLogic RP Data Pain and Gain Report from December 2015 suggests that houses in Melbourne have been providing significant capital gains over the past 12 months. A property that sells for less than the price it was purchased for is said to be 'pained', and CoreLogic states that only 2.5 per cent of properties sold in Melbourne last year fell into this category. The national average around the capital cities was 4.7 per cent, so the city is clearly ahead of the curve.
With so many properties making capital gains at the moment, and the market only expected to become stronger as the population grows, will investors wise up before prices are driven sky high? Here at Ray White Brunswick, we think there is a fantastic opportunity for properties to be bought in the north of the city before the population boom really sets in.
If you're in the same boat, get in touch – we'd love to get you into the property that matches your needs perfectly.