Dipping your toes into the property investment may be on your list as a goal for 2019. Property investors in Melbourne are always keen to research and observe potential growth suburbs. If this is the case, you may be keen to know 2019’s growth suburbs, as predicted by Your Property Your Wealth.
When looking for investment properties, growth areas tend to be located close to employment hubs with significant planned development for new infrastructure. In 2019, the growth suburbs predicted for Melbourne/Victoria include Grovedale and Wyndham Vale.
Here is a quick breakdown of these two suburbs:
With medium house values of $480,000, Wyndham Vale has recorded a significant increase in house price over the past year. Wyndham Vale is located approximately 30 kilometres south west of Melbourne’s CBD. With neighbouring suburbs including Werribee and Hoppers Crossing, it has its own railway station with trains running from Geelong and Warrnambool. Presently, Wyndham Vale offers affordable options for property sales, making it one to watch for investors.
Grovedale is a suburb located in the Greater Geelong City and has presented a surging interest in property growth over the past year. Grovedale provides great value for potential buyers, with median house values of $467,000. Property in this area represents value for money compared with the metropolitan Melbourne real estate market, with owners seeking a great lifestyle as well as employment and new infrastructure opportunities.
Hotspotting has also predicted Regional Victoria to be one of Australia’s best real estate markets for growth with Bendigo increasing strongly. The median house price in this area is $325,000. Likewise, investors are also targeting Ballarat as it presents affordable prices, higher rental yields and a comfortable, relaxed lifestyle. Median house values are approximately $275,000 in this area.
Mr Ryder, the founder of property research site Hotspotting.com.au, said the biggest growth was happening in regional areas, particularly in NSW and Victoria, because a lot of investors and even first home buyers were looking outside Sydney and Melbourne in search for affordability and growth, while the Sunshine Coast was Queensland’s best market.
If you’re interested in a buying a property in these growth suburbs or elsewhere in Melbourne or Central Victoria, we recommend that you invest in peace of mind today by arranging a building inspection. The team at The Hub will try to accommodate your needs, with a typical 3-4 day booking availability as well as a 24 hour report turn around.
Call us today on 1300 071 283 or click here for a quick online quote and we can help you through this process.