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Hi Nigel,
Where do you suggest to look to purchase in Melbourne for good capital growth prospects, low vacancy with decent yield?
Also do you source in these areas?
Hi Micky
Apart from population growth their is also a shortage of titling land. Even if you buy a block in some cases you may be waiting a year of more.
The other thing is we also have the highest net migration from interstate since 1888. When I talk to people from Sydney I am told that many people are moving from Sydney to Melbourne because Melbourne is still far more affordable than Sydney and even if you live in a new area like Mernda you are still less than 30km from the cbd. There are lots of people also wanting to migrate to Melbourne especially with the tag of Worlds most liveable city.
So I cannot see any downward movement in the market here for some time. However it does not necessary mean that the market will keep going up at the rate that it is today. When i talk to investors i say that you need to buy for the long term if you buy on the basis of selling in a few years you are speculating. However if you are waiting for the market to fall you may still up paying more than you would today.Hi Nigel,
Where do you suggest to look to purchase in Melbourne for good capital growth prospects, low vacancy with decent yield?
@nigel-kibel any other reasons you think other than population growth will make the Melbourne market go for another 4 years?
