Our go to spots for under $1m for investors

Here are some great suggestions for investors wanting to invest in a slice of Melbourne real estate. Of course, like anything, you need to make sure it fits your individual scenario, and please don’t forget to read our recent blog around portfolio diversification.

When looking at any suburb, we consider the following aspects:

·      Proximity to transport

·      Proximity to schools

·      General infrastructure spend

·      Streetscape

When looking at the individual property, we consider the following aspects:

·      Orientation

·      Potential to value add

·      Scarcity

·      Levels

·      Noise

·      Planning applications in the surrounding area which may negatively impact the property

·      Zoning in the surrounding area which may negatively impact the property

But for a good balance of capital growth and rental return here are some of our top tips. All of the examples tick the majority of the above boxes.

Villa unit in Murrumbeena

A good example: 3/13 Howe St Murrumbeena

Why Murrumbeena:

According to Corelogic data, the average length of ownership is 14yrs, which makes it above the Melbourne average of 12.5yrs.. so people are obviously sticking around for a reason! Also the recent government infracture spend in fixing the train lines has immensely improved traffic congestion in the area, as well as provided additional areas for relaxation and recreation.

House in Coburg North

A good example: 46 Galeka St Coburg North

Why Coburg North:

On a state level Victoria’s home ownership is 68% homeowners, 29% renters (according to the ABS based on data from its Survey of Income and Housing conducted from July 2017 to June 2018). And Coburg North is sitting just above this with a 69% home ownership split.

Oh and did we mention, it’s under 10kms from the CBD, and you can still get a large family home for under $800k!

House in Seaford

A good example: 40 Mitchell St Seaford

Why Seaford:

It has the lifestyle aspect of the bay, with the train line making it an easy commute into the city. The infrastructure spend along this part of the coast has also eased traffic congestion, and has improved the area in general.

House in Boronia

A good example: 7 Pinevale Court Boronia

Why Boronia:

Sitting at the base of the Dandenongs, it provides good access to the CBD via the train line, but the lifestyle aspect of being near the Ranges. It’s had good consistent growth over the last 10-15 years, with the last 12 months recording a 9.29% increase in the median property values in the suburb.

If you would like to chat about your investment property purchase, feel free to reach out!

In the meantime, happy hunting.

Regards,
Tabitha