SQM Research’s Housing Boom and Bust Report 2016 predicts that Melbourne’s property market is poised to overtake Sydney’s in 2016, with a rise in housing prices of between eight and 13 per cent forecasted for Victoria’s capital.
If you have clients interested in trying their hand at property investment in Melbourne in 2016, now could be the perfect time to buy with an ongoing robust Melbourne housing market and with housing prices on the up tipped by respected property analyst Louis Christopher.
Here are 10 hot Melbourne suburbs, their key stats and major drawcards to pass on to investors or prospective buyers.
Depending on your client's financial goals and investment strategy we’ve divided up our top Melbourne suburbs worth considering based on:
- areas with solid rental yields for investors looking for income producing properties,
- suburbs with good 12-month growth rates for investors looking for prospects with strong price growth
- and affordability, for investors looking to snap up a bargain.
10 Melbourne suburbs to recommend for investment in 2016:
Good annual growth
Stats: $1.96 million MHP, 45.28% 12-month growth and 1.95% RY.
Drawcards: Family-friendly, 16km from the CBD, large block sizes, golf club, cinema, good public transport, schools, parks and shopping centre.
Stats: $1.10 million MHP, 32.12% 12-month growth and 2.08% RY.
Drawcards: Suited to young families, under 20km from the CBD, good for schools and childcare, golf course, healthcare facilities, close to parks and reserves.
Stats: $1.70 million MHP, 21.41% 12-month growth and 1.68% RY.
Drawcards: Under 17km from the CBD, family-friendly, good schools and parks.
Solid rental yield
Stats: $244,000 MHP, 4.72% 12-month growth and 5.65% RY.
Drawcards: Affordable, train station, family-friendly, schools, childcare, Victoria University campus, fast internet and golf course.
Stats: $345,000 MHP, 1.47% 12-month growth and 4.97% RY.
Drawcards: Train station, suited to families with kids and retirees, small town feel and good schools.
Stats: $360,000 MHP, 5.03% 12-month growth and 4.91% RY.
Drawcards: Good schools and childcare, parks and dog parks, shopping centres, library, close to the beach and Peninsula Link.
Stats: $516,250 MHP, 10.29% 12-month growth and 3.88% RY.
Drawcards: Suited to young couples and young families, large block sizes, fast internet, close to the Yarra Valley and Dandenong Ranges, indoor swimming pool, good schools, parks, public transport, dining and shopping.
Stats: $249,000 MHP, 3.75% 12-month growth and 5.43% RY.
Drawcards: Affordable, large blocks, public transport, shops, suited to families and retirees, schools, childcare, Victoria University campus, fast internet and golf club.
Stats: $380,000 MHP, 17.11% 12-month growth and 4.79% RY.
Drawcards: Affordable, good schools, family-friendly, public transport, close to shopping centres and freeway access.
Stats: $405,000 MHP, 9.46% 12-month growth and 4.30% RY.
Drawcards: Affordable, beachside suburb, bay views, family-friendly, Arts Centre, shopping centre, restaurants and cafes, proximity to the Mornington Peninsula, parks, walking tracks, good medical facilities and schools.
Do you have your eye on any other other growing Melbourne markets for investment in 2016? Please share them below.
From the Homely Team
Homely is a new way to search for real estate for sale and properties to rent in Sydney and across Australia. With over 330K listings and 500K local reviews and insights, Homely is a faster and easier way to search for property to buy and rent in Australia.
We'd like to hear from you!
If you enjoyed this blog leave a comment below and share it with your friends. Please respect the public forum and refrain from posting any expletives or hateful comments as they will be removed. We're always on the look out for guest bloggers and would like to receive your feedback, so feel free to get in touch at email@example.com.