Melbourne is home to some of the top suburbs for property investment in Australia, and with the demand for property steadily growing across the board, now is a perfect time to consider buying. The city’s one-bedroom apartments hold the highest rental returns in Victoria, and with so many previously slept-on suburbs on the rise, there’s a lot to get investors excited. However, success in the property market is all about location, meaning that finding the right place to buy should always be at the top of your priority list. So, to help you through the process, let’s take a look at Melbourne’s top suburbs for property investment in 2020.
At first glance, the idea that Melbourne is one of Melbourne’s top suburbs for property investment seems obvious. However, with a recorded value increase of 6.87% in the median house price, and with value projected to rise over 2020, central Melbourne is a definite hotspot for potential investors.
While the central business district isn’t exactly known for having a large number of houses, that doesn’t mean you’re limited for choice. From refurbished historical apartments to warehouse and laneway conversions, Melbourne is filled with unique properties that are perfect for investment opportunities.
Stepping well-away from the city sprawl of Melbourne’s CBD, Moe is one of the unsung heroes of investment suburbs. Located 120km east of the city, Moe’s growing economy and agricultural landscapes are often passed up by investors for its more well-known counterparts around Gippsland and Latrobe Valley. However, good investing comes from areas on the rise, rather than those that are peaking, and Moe has seen a consistent rise in house prices and rental yield throughout the previous decade.
With one of the highest rental yields in the state, Moe is definitely a suburb to pay attention to.
Another oft-overlooked suburb on the property investment map, Stawell’s gross rental yield of 6.2% more than makes up for the lack of brand recognition. Investment opportunities have been spreading out to regional areas over the past few years, and that shift has led to a considerable amount of growth for places like Stawell. With a median house price of under $190,000, Stawell is perfect for those looking to get into the Real Estate market.
While many investors have shied away from putting their money into Southbank due to occasionally-exorbitant house prices, the highly-sought-after suburb is starting to see a shift toward affordability. As median house prices have dropped significantly since 2016, from $565,000 to $535,000 at the end of 2019, average rental prices have stayed consistent at around 5.50%, with rental demand still very high. In other words, it’s far more affordable to buy in Southbank, whilst still offering the same high rental yield. Where’s the downside?
As we touched on earlier, finding the top suburb for property investment means finding suburbs that have strong potential for growth, and Melton more than offers that upward trajectory. With median house prices at an affordable $385,000 and a gross rental yield of +4.3%, Melton is definitely a suburb worth looking into as an investor.
Being a property investor comes with a lot of responsibilities, so why not let My Rental take some of that stress off your hands? As one of Australia’s most innovative, trusted property management services, My Rental is dedicated to providing property owners and investors with comprehensive management at an affordable price. Contact My Rental today to see what we can do for you.
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