Melbourne Real Estate
Melbourne real estate is surprisingly affordable. Compared to its bigger cousin, Sydney, Melbourne has a wider price range of residential real estate. For this reason many people from Sydney and other cities are flocking to Melbourne to buy their first home or investment property.
As with any city, Melbourne real estate has a top end of the market where properties are very expensive. This can be seen in suburbs like Toorak and other suburbs very close or in the city.
Melbourne commercial realestate is also very much in demand these days. Many businesses are finding it economical and financially wise to set up shop in Melbourne so if you are a commercial real estate investor, Melbourne is definitely worth looking at.
So where can you pick up a bargain in Melbourne real estate and which areas are growing? Let's take a look.
Frankston The Frankston area, in Melbourne's south eastern suburbs, is currently a hot prospect for investors. Although thought of as a lower class suburb, due to location people believe that value of property in Frankston is going to skyrocket. Currently you can buy a house here for under $250,000.
Bayside The Bayside suburbs have always been popular and this is set to continue. If your budget is $350,000 and above you can pick up a great investment here.
Geelong It’s only a matter of time before property in Geelong increases drastically. Located conveniently close to the coast, Geelong appeals to investors and home buyers alike. You can still get properties here in the low $200's.
Along with Melbourne there are regional areas in Victoria where you can find some great real estate with potential for capital gains. This includes major locations like Bendigo and Ballarat as well as the growing towns of Werribee, Melton, Traralgon and Sale.
Whether its residential or commercial real estate you are after, Melbourne provides great options for you.