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We have put together an exclusive Top 10 list of where industry professionals predict the growth areas are for 2020.
Unlike other Top 10 lists, these suburbs have NOT been picked because of past performance, they’ve been selected by an expert team who say these suburbs have potential for Advantage Consulting clients in the future.
- Discover suburbs with investment properties under $600,000.
- Discover suburbs with 10%+ yields
- Learn affordable ways to build wealth.
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There will be some surprises for many who check out our list. You’ve probably seen other “top ten” lists published and they can vary wildly depending on what criteria is used to create them.
Why? Because everyone’s financial circumstances are different. A list of “top ten” suburbs based only on the increase in sale prices may make a good headline but not be much use to a relatively new investor, as they probably wouldn’t be able to afford to buy into those, more expensive, “top 10” suburbs.
Your current and future circumstances
Advantage Consulting is all about making our clients more financially literate. Our role is to make sure each client has the information and guidance they need to make smart decisions about their financial future based on their current and future financial circumstances. And for many, there is comfort (and solid returns) in real estate investment. So our list, compiled by a group of experts who are available to advise our clients, has some suburbs (and some rural centres) that have the kind of potential investment returns a well-informed investor should be looking for. And, in several instances, these hot spots may have been overlooked by others who compile such lists.
Is now a good time to invest in Melbourne property?
You don’t have to be a real estate expert to know that banks have tightened up on lending – particularly to investors. As a result, on average, Melbourne property values have declined in recent months but this is looking more like a “soft landing” rather than a collapse. The current environment has presented an improvement in housing affordability and indeed a potential investment opportunity.
Market Peak
The market peaked in November, 2017 …over a year ago(i). Yet, rather than panic selling we’re seeing what could be described as an “orchestrated slowdown” to take the heat out of the market. On the upside, first home buyers are back(ii) and are now less likely to have to compete with professional investors at auction. And Melbourne’s growing population means there will be continuous demand for property.
Our top 10 investment suburbs (and rural centres)
We’ve had some experts put together a brief appraisal of 10 areas they believe are seriously worthy of our client’s consideration. Several of them with properties under $600,000.
You should assess whether the information on this website is appropriate to your particular investment objectives, financial situation and investment needs. You should do this before making an investment decision on the basis of the information on this website. You can either make this assessment yourself or seek the assistance of any adviser.
(i) https://www.smartcompany.com.au/industries/property/end-year-update-australia-property-markets/