Melbourne Suburbs To Watch Out This Year
Last year, the real estate industry in Australia was at its peak. Records at auction were smashed and just made the whole year extremely exciting. Melbourne has some amazing things in store for those who are looking for property and some profitable investments.
One of the spots in the North part of Melbourne that is predicted to heat up this year is in Coburg, particularly in Sydney Road. According to agent and auctioneer Jellis Craig, this south of Bell Street area has such a great vibe and is also multicultural, and indeed has a lot of value.
Another area to watch out for is Brunswick West. While it is still an area that is still undervalued because potential buyers are still apprehensive about moving North of Bell Street, but slowly, people are starting to gain interest in some parts of it. Townhouses are very much profitable because of the charm it has for a lot of buyers. Areas like Collingwood, Abbotsford, Fitzroy, and Northcote will still do well.
In South, the area that is predicted to level up is Beaumaris according to the director of Chisholm & Gamon, Sam Gamon. This is due to the secondary college that is set to open this year. Elwood and St. Kilda areas will also continue to become profitable as art deco apartments are known as “the new house alternative”.
What about in the East? Scott Patterson, the director of Kay & Burton says that if you’re planning to invest somewhere in the East, you should go for Kew East and North Balwyn, where he believes to still be undervalued. In spite of that, these areas are great places for great family homes and rebuilding. Prices in those areas are starting to rise as well.
As for the West part of Melbourne? Suburbs such as Yarraville, Seddon, Newport, and Williamstown are still the best areas. And if you’re looking for value, Craig Stephens predicts that areas such as Sunshine, Maidstone, and Albion will start experiencing price hikes this year. You may also consider investing in South Kingsville. Although the area is yet to gain attention, it is a place where you can get period-style homes for less than $900,000. Not bad, right? He adds that 2018 will continue the trend of unrenovated homes rivaling renovated ones. Homes left untouched will also see astounding prices.
Dockland, being Melbourne’s business center helped boost Footscray’s capital growth. More and more people like the idea of being so close to the rail line. Wherever you decide to invest in, looks like this year is going to be very exciting in Melbourne.