Residex predicts 8% growth for Melbourne’s Bayside property.

Image courtesy of Around The Region - aroundtheregion.com

In Saturday’s Herald Sun there was an article about predicted residential property growth across Melbourne. According to new data released by property analyst Residex, bayside suburbs located close to the city appear to be holding appeal with buyers. Suburbs including Elwood, St Kilda, Port Melbourne and Middle Park are all tipped for 8% annual growth over the next five years.
These properties will always hold very strong appeal to both buyers and renters. Ensuring your investment will have low vacancy rates and consistently strong capital growth. In the article Residex chief executive John Edwards highlights that the price adjustments throughout Melbourne aren’t universal and many bay side and inner city suburbs are escaping correction. Anyway, it’s a good article and very interesting data. I have hyper-linked the article within this post if you would like to have a read for yourself!