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Melbourne property investment could be a wise move

By Jamil Allouche

Making an investment in real estate in Brunswick could turn out to be one of the wisest decisions you ever made, as property prices are predicted to rise across Melbourne.

Forecasts from Home Loan Experts show that the Victorian capital has exceeded average national price rises and that buyers can expect to see this trend continue for a while longer.

In fact, the group told New Limited that the median house price is likely to exceed $1million in less than a decade, piling on the pressure if you've yet to make an investment.

Managing director Otto Dargan explained that larger properties may eventually fall out of favour with buyers as they instead choose those at the more affordable end of the spectrum.

"The days of the quarter acre block are coming to an end. Living in apartments will continue to become a much better trend," noted Mr Dargan.

The October RP Data CoreLogic Home Value Index also recently identified strong price increases across the Victorian capital, rising 1.9 per cent compared to the previous month.

Furthermore, Melbourne was just one of four cities to have recorded a rise in home values over the previous three months.

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