Thinking of buying property in Melbourne?
As a buyer agent in Melbourne, Wakelin Property Advisory distinguishes between Melbourne the suburb – the CBD, the postcode 3000 – and Melbourne the greater metropolitan region of 5 million people. These are two very different propositions.
Until recently, the Melbourne CBD had a modest population, and was dominated by commerce. This has been changing over the last two decades. Large scale construction of residential towers has seen an influx of residents. Many are students, some from overseas. The change has certainly made the Melbourne CBD far more vibrant, especially at night and over weekends. Undoubtedly, many homebuyers including downsizers are attracted to this lifestyle. However, we caution investors. Notwithstanding improved demand, supply still outstrips the growth in potential customers.
Melbourne the greater metropolitan region is of course not one homogeneous investment proposition. There are hundreds of suburbs and distinct regions: bayside, inner east, outer east, inner north, outer north, and so it goes on. choosing Melbourne as a city to invest in is a great first decision. The next step is to drill down to an area that has the right profile for investors. That, essentially, is what Wakelin Property Advisory does day in, day out.
Are you interested in investing in Melbourne?