Top 10 Towns and Suburbs in Victoria to Invest in 2016
We asked industry experts where they would buy in 2016.
Phil Horan, National Director, Hello Real Estate-
Wodonga which is on the brink of a construction boom with a string of large scale projects about to commence.
Ballarat whose population is expected to reach 130,000 within 20 years as more people leave Melbourne for regional Victoria.
Bendigo is a key regional center, thanks to its steady local economy, proximity to Melbourne and good transport links to the capital – soon to be improved by the $5 billion Regional Rail Link.
Casey is a key population growth area for Melbourne and has emerged recently as a growth property market, with many suburbs attracting rising sales activity from buyers.
Dandenong showed exceptional capital growth between 2007 and 2010, and it now presents as a location on the cusp of a new growth phase, based on its affordability, good transport links to central Melbourne and extensive spending on infrastructure.
Epping/ Craigieburn has plenty of good reasons that are worthy of consideration by investors. They include: The Western Ring Road upgrade, Relocation of Melbourne’s fruit & vegetable markets to Epping, Austrak intermodal terminal at Somerton, Relocation of Coles Myer’s key distribution facility to Somerton, Major housing and retail developments.
Frankston was an active property market in 2009/2010 offering affordable homes by the sea popular with first-home buyers as well as million-dollar homes along the beachfront. The Frankston market paused, in line with wider city trends, in 2011-2012, but is now poised for a comeback, boosted by new investment and numerous commercial developments.
Maryborough was originally a gold mining area, developed on the back of the agricultural industry and now it is a growing manufacturing centre, which also attracts tourists through its rich gold mining heritage and architecture. It has appeal for investors as a growing town with affordable real estate options.
Suburbs in the City of Monash is one of Melbourne’s steady markets with major infrastructure and employment prospects are strong, with Monash Health, the largest public health provider in Victoria, employing 13,000. More jobs will become available when Chadstone Shopping Centre expands, employing 2,700 construction workers and creating a further 2,200 operational jobs upon completion.
Sunshine and surrounds are destined to become a major regional hub within the Melbourne metropolitan area nominated in the ‘Melbourne Metropolitan Planning Strategy’ as the key area for development and infrastructure spending in the city’s western suburbs.
Contributor: Philip Horan CEO of Hello Real Estate Ltd and the Author of;
‘If You Love Your Real Estate Agent Don’t Buy This Book’ www.philiphoran.com.au
Louise Syphers, Mortgage Broker, Lakeside Financial
I find many of my clients in particular when buying property often look at the following when determining property-
- Access to public transport
- Education public schools and private schools
Particular areas given the above I can see further growth in the next 5 years is –
- Glen Waverley
- Footscray (close to the city and still very good property prices)
Contributor: Louise Syphers, Lakeside Financial http://www.lakesidefinancial.com.au/index.php