Property Investment Melbourne – with increasing rental fees, now is the time to invest.
Rents in Melbourne shot up by almost 11% over 2009, delivering pain to tenants and a boost in yields for property investors. Latest figures reveal the median rent at $315 a week, up 10.9% on a year earlier. The greatest demand appears to be for two-bedroom houses (up 12.2%) and one-bedroom apartments (12.2%).
The Australian Financial Review, Page 53, 27 March 2009, as quoted in The Matusik Report, itp, I April 2009.
Now is the time to discover the hot spots in Melbourne and find your investment property. Areas closer to the city centre are always in demand, and rental yields are usually higher. Upcoming areas include Docklands, Brunswick, Collingwood, Richmond, St Kilda and Southbank.
Regions in Melbourne that have been performing well in the property investment sector include the Inner North, Inner South, Inner West, and Inner East. These regions are relatively close to the city centre itself and the returns on investment remain high and continue to grow.
A few tips for property investment Melbourne:
- Look at the position that the property is located. Not just the suburb but the actual location – for instance, families want properties near schools and shopping centres, single bedroom apartments are probably best suited for working executives and should be close to the city or major transport routes
- Pricing is always a factor. More expensive properties may also mean that you can get higher returns. Your property investment advisor at McCarthy Group can assist you with working out the return on investments on each property you are looking at.
- Work with your property investment advisor to calculate and analyse potential rental returns or capital gains.
If you’d like to find out how McCarthy Group can help you discover investment property hotspots in Melbourne, give us a call on 1300 850 318, or visit http://www.mccarthygroup.com.au/free_consultation.html.
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