Anyone considering making an investment in Coburg real estate will no doubt be looking for some assurances that their decision will be a wise one. After all, with average property prices rising across Melbourne, it's a big financial commitment that's not to be taken lightly.
The good news is that all the latest data is pointing to positivity in the market. The March Rental Review from CoreLogic RP Data shows that while other parts of the country are struggling in terms of weekly rent rises, the same cannot be said for the Victorian capital.
Units are, in many respects, outperforming houses in terms of rental returns. The figures showed that month-on-month, house rents have increased 0.1 per cent to reach $489 per week. Units, on the other hand, experienced a rise of 0.4 per cent to register an average of $469 a week.
Rental rates have therefore stayed at record highs in Melbourne, while declines have been seen in every other city with the exception of Sydney.
It's not just rents that have increased, but also the value of real estate in Coburg and other parts of Melbourne. The latest Residential Property Price Index from the Australian Bureau of Statistics shows that during the three months to December, values in Melbourne increased 9.6 per cent compared to the previous year.
On a quarterly basis, the increase registered at 1.6 per cent. In Sydney, property prices declined 1.6 per cent over this period.
The team at Ray White Brunswick is on hand to help you secure your next investment property in this desirable part of Melbourne. With many years of experience in the local market, we're many investors' number one choice when it comes to making an informed purchase.