February 5, 2020 9:21 am Why Should Someone Buy Real Estate In Melbourne?
This is a sponsored post by Industry Insider
If you’re considering investing in Melbourne property, there are things you should know to help you better understand what’s going on in Australia’s second-largest property market.
Melbourne is a smartly planned city that is amply serviced by a variety of public transport options; it is laid out under the ‘Hoddle Grid,’ named after its designer Robert Hoddle that runs roughly parallel to the Yarra River. Like other large cities, Melbourne is divided into ‘east’ and ‘west’ neighborhoods; those in the east are highly established and are considered more affluent, while those in the west are much more affordable, newer suburbs with few established reputations.
The residents of Melbourne much enjoy the use of some of Australia’s advanced and well-connected road systems, rail, and tram infrastructure; this gives locals plentiful options when deciding on how to get buyer’s advocate to take around the city and its surrounding suburbs.
The Melbourne city is nothing without multicultural, with dozens of varying religions and nationalities. The Multicultural Hub was launched to serve as a friendly and supportive environment for Melbournians of all cultures to get together and work, to share and learn. At the same time, the city’s diverse and awarded restaurant scene is highly influenced by the movement of people from diverse backgrounds.
Melbourne Town Houses
A Melbourne Town House is a popular style of Melbourne accommodation where people live in modern housing on compact blocks of land close to amenities in the middle ring suburbs. According to the 2016 Census, there was an 11% increase in the number of people living in townhouses.
Melbourne Flats / Apartments
If you happen to invest in a flat, you are buying an apartment that has other dwellings attached to it; it could be above or below, next door, or a combination of the above. They are the most preferred style of accommodation for Melbourne’s youth and are relatively easy to the tenant, and hence, if well located, they can make great investments.
Like any cosmopolitan area, Melbourne is a creative city served by several industries; hence residents enjoy employment in diverse sectors, from tourism, hospitality, and entertainment to commerce, industry, and trade. Most of the jobs created in Australia in the last decade have been created in Melbourne and Sydney.
This is a style of property that has made an attractive investment in Melbourne. As they increase in popularity, the small families and young tenants enjoy the privacy with no one above or below and the small yard.
Commercial, Retail and Industrial Properties
Commercial properties like retail shops, factories, warehouses, and office spaces are in a different league from residential property and out of the domain for the every-day investor. There are more markets in this diverse city, which is divided by price point, geographical location, and property type. For most advanced investors, their job is to build their asset base. Once their portfolio is big and robust enough, they start transferring into a cash flow strategy, and at that point, with help from a buyer’s advocate, a commercial property can be a good investment.