Why invest in Melbourne property?
Why is there so much hype around property investment in Melbourne? As one of Australia’s largest private property developers, we get asked this question all the time.
In a nutshell, Melbourne is Australia’s fastest growing city. With an increasing number of job opportunities, this business hub can boast of an on-going development in infrastructure and a massive influx of migrants over the years.
Here’s why Melbourne is on track to become Australia’s most populous city by 2027, as the destination of choice for migrants:
- Ranked 1st in Australia and 3rd in the world on 2023 Global Liveability Index
- Crowned the “World’s friendliest city in 2022”
- World class health and education
- Home to one of the world’s best universities
- Multi-cultural with 31% of the population born overseas.
- Since 2001 the number of Indian-born migrants in Melbourne has tripled
Consequently, Melbourne has become a supreme location for property investment because:
- Growth in population has resulted in a massive surge in housing demand
- Housing supply hasn’t been at par with population growth
- This demand is expected to continue till 2050
- This has also resulted in high rental yields
- Land prices in some locations have doubled in less than 5 years.
Here’s some statistics on why Melbourne is a favourite among the Indian community: