How to invest in Australia to make the best profit with 1 million dollars?
Investment in real estate is one of the safeguards that many foreigners choose when investing in Australia to maximize profits.
However, investors should be cautious in choosing the investment area to achieve the highest return. One of the most popular areas of investment is Victoria. We would like to introduce some information on the best real estate investment areas in Victoria in 2018 so that you can make informed decisions and maximize profits.
How is the property market in Victoria in 2017?
Rapid population growth continues to support the real estate market with Melbourne’s record growth of 10.1%, as of November 2017. This is the return of both migrants state and foreign with the Australian Bureau of Statistics. This activity is reflected in the NAB Housing Property Index – based on capital and occupancy growth surveys – recording an increase in Victoria in 2017.
Real estate investment in Melbourne
Real estate investment in Melbourne continues to grow rapidly, recording double-digit annual growth. This is driven by strong population growth, a vibrant economy and high quality lifestyles – all of which continue to attract migrants from other countries.
In September 2017, Melbourne’s average home price was $ 880,902 while other areas were $ 506,334. Housing prices in Melbourne have risen more than 55% in the past five years, with most of the suburbs in and around Melbourne CBD having an average home price of $ 1 million.
According to SQM Research, the southwestern suburb of Melbourne is a hotbed for investment and consideration, after recording Australia’s fastest price increase in 2017. Other suburbs with a median home price surge Dromana of Mornington Peninsula (15%), Sunbury (14.5%) in north-west Melbourne and Balwyn North (13.8%), suburb of Melbourne. The Victorian Real Estate Institute (REIV) lists Bundoora (27.7%), Northcote (26.3%) and Moonde Ponds (26.2%), which are the suburbs with the highest average increase.
What real estate in Victoria will explode in 2018?
All of the areas near Melbourne’s city center are being attracted by investors as improved transportation routes make travel easier, more job opportunities, cheaper housing, and a more comfortable lifestyle.
Geelong and Ballarat have average house prices up 35.26% from 2017. Other areas to follow in the NAB Housing Property Survey include Cheltenham, Frankston, Toorak and Werribee’s suburbs. Melbourne – all predicted average growth in 2018.