When it comes to choosing a place to live or buy property, the title of 'world's most livable city' is a hugely enticing factor. It's an accolade associated with happiness, clean living, open spaces and great infrastructure. For the fifth time in a row, The Economist has ranked Melbourne at the very top of this enviable list.
In the discussion of which city really is the world's best, Australia has always ranked amongst the most frequently cited countries. Of course, the title itself largely comes down to personal preference, with multiple sources selecting different locations.
Even so, the likes of the Gold Coast, Brisbane and Sydney are always in the reckoning. It's Melbourne though, that most frequently claims the Aussie crown, often ranking as the most liveable of them all worldwide. So, why does the city have this appeal, and how should it affect your decision of where to live or invest?
One of the most respected sources for ranking the livability of the world's top cities is The Economist, which has placed Melbourne in the top position for the last five years in a row. This puts the city amongst the likes of Vienna and Vancouver in the upper echelon of desirability. But what are the factors that determine how 'livable' a city really is? Well, according to The Economist Intelligence Unity (EIU), the highest ranking cities are usually "mid-sized cities in wealthier countries with a relatively low population density", compared to a metropolis like London, New York or Sydney.
Other factors most commonly taken into account include the likes of healthcare systems, public transport and natural areas, along with employment and crime rates. Melbourne performs well across all of these fronts, which goes a long way to explaining the city's population growth – the fastest of any Australian capital city.
You can expect to get a better price than you might in other, similarly sized cities.
From the perspective of renting in Melbourne, the city's status as one of the world's best provides security across a number of fronts. Not only can you rest easy knowing that the area is safe, secure and smooth-running, but the desire to remain at the top means that drastic changes to elements such as the natural parks are unlikely to change.
From a property owner's perspective the title is perhaps even more important. This can all be put down to the increased demand for real estate, especially in highly regarded areas like Brunswick. whether you're aiming to rent out your property, or put it on the market, you can expect to get a better price than you might in other, similarly sized cities around the country.
For more information on all things property. get in touch with Ray White Brunswick today.