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Carlton Identified As Growth Suburb

By Jamil Allouche

Property in Carlton was found to have experienced high growth over the December 2013 quarter, providing buyers with a great location to purchase a growing property. 

Results from the Residex State Market Report for Victoria found that over the quarter, capital growth for real estate in Carlton North increased by 6.95 per cent. This is one of the highest rises recorded in Melbourne, out performed only by Princes Hill and Fairfield.  As a result of this activity, median values for homes in Carlton North are currently $985,000.  

With vacancy rates at a good level in the Melbourne region, there are many opportunities for investors to secure a property that grows in value. Recent figures from SQM Research recorded a 2.1 per cent vacancy rate for Melbourne during March, after contracting by 0.3 per cent the month before. 

In fact, vacancies have improved drastically in the Melbourne area since March 2013, when the vacancy rate was a higher 2.6 per cent. 

Carlton and the surrounding suburbs in the area are a perfect option for both investors and home buyers. Situated only a couple of kilometres outside of Melbourne's CBD and within walking distance to the University of Melbourne campus, buyers are in a fantastic and central location, ripe for growth. 

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