Melbourne has been experiencing a housing boom but the average home remains around $200,000 cheaper than Sydney. Recent data reveals that Melbourne has the highest population growth of any Australian capital city with Melbourne expected to take Sydney’s title of ‘Australia’s largest city’ by 2053. Investors are now realising that their money can go much further in Melbourne. But consideration needs to be taken to the location you invest in around Melbourne, as not all areas provide equal capital appreciation and rental return.
Savvy investors are buying in Melbourne’s Southeast corridor, where suburbs about 45 minutes from Melbourne CBD have steadily become one of the states hottest real-estate markets. The City of Casey is the center of the Southeast and has further stamped its identity as a health and education hub, and is recognised as the third fastest growing municipality in the state.
Safe Super Homes have been established in Berwick, the jewel of Casey, for over 26 years and witnessed the enormous growth of the area. The Victorian Government has dedicated millions of dollars to expanding facilities in the City of Casey, Cardinia and Gippsland, further increasing the appeal and value of properties in this area. Casey’s population growth is driven by young families and is growing by an average of 144 people per week. This means it has the most residents of any municipality in Victoria.
With over 7,500 new residents moving here each year, the balance of supply and demand works in favour of investors. Capital growth is regular and more stable in this area than any other region in Victoria.
Residents in the region have access to the following: