When it comes to selecting somewhere to invest in property, it's a good idea for you to research the upcoming infrastructure projects and overall prospects for economic growth in the area. After all, nobody wants to buy a rental home somewhere that has no opportunity to grow in value.
For example, now could be a brilliant time to look into adding property in Carlton to your investment portfolio. A recent release from the Victorian government has removed some red tape surrounding the construction of commercial property in the state, opening up investment opportunities in Melbourne's metropolitan areas.
Minister for Planning Matthew Guy said the removal of the requirement for builders to take out costly and unnecessary insurance policies will help the business sector across Melbourne and Victoria to grow.
"Commercial builders and their clients have many policies and processes in place to manage risks, so this costly insurance coverage was rarely ever needed and only added to building expenses," said Mr Guy in a June 10 statement.
"Removing this regulatory burden on the industry will make Victoria an even better place to invest. This will increase our economy's productivity, creating more jobs and securing ongoing benefits for our community."