Invest in property in Victoria, Australia?
Property investing in Victoria, Australia is a well-established trend. Most investors will choose an asset in Melbourne, the capital of the state, but there are also those who select a regional city like Geelong, Ballarat or Bendigo. Others will eshew metropolitan life altogether and invest in regional or coastal areas.
Investors need to consider the underlying economic and property dynamics of each market before proceeding. For instance, metropolitan areas tend to have the most promising economic conditions: higher incomes and greater and more employment opportunity. Cities also have more intense access to amenity: be it health, education or entertainment. All this drives strong capital growth and underpins robust rental demand.
Regional Victoria has many flavours. Coastal regions within a couple of hours drive of Melbourne often have a vibrant holiday home market; those beyond this reach, less so. A number of regional towns that are on or close to V-Line regional rail stations garner interest from those happy to commute from the inner bush on weekdays whilst enjoying the splendours of country Victoria at the weekend.
There are also very small towns and villages where property can be bought - and even isolated houses. Undoubtedly, these properties represent dream living for many in an ideal world. Alas, in the real world of earning an income, there are comparatively few people who can adopt this lifestyle, which of course weighs down on capital and income growth prospects.
Are you interested in investing in Victoria Australia?