What to Expect When Investing in Bayside Property 2019
The property market has been a hot topic of 2019. Discussions around falling house prices, housing affordability and unchanged cash rates, suggest many buyers are insecure when it comes to investing in Melbourne property. In the latest C&G blog, we turn to the experts to reveal what prospective buyers should look for when buying property in Bayside.
According to the Property Investment Professionals of Australia, there are three key elements to keep in mind when forecasting properties that will offer above-average capital growth:
- Houses perform better than units
- Choose the right city first, then research suburbs
- Suburbs close to metropolitan areas have the best capital growth
Bayside Suburbs to Watch
That said, first-time buyers and seasoned investors are showing interest and enthusiasm especially for beachside, one-apartments in areas like Elwood and Hampton. According to this handy article from The New Daily, here are the Bayside areas to best research and watch out for in 2019:
Popular buying suburbs: Hampton, Brighton, Elsternwick
Affordable areas: St Kilda, Cheltenham, Parkdale
Melbourne Population Growth
With Victoria’s booming population continuing to grow at 2.2% percent each year, to support this high level of demand means building more residential homes. As seen in Brighton and Sandringham, massive homes and mansions are converted into townhouses or apartments accommodating for residential growth in Bayside. With low vacancy rates and rising rentals (especially in the CBD), buying property in Bayside secures prospective local tenancy and high-interest from developers and foreign investors. This offers Bayside property owners’ potential for long-term wealth.
Lifestyle Like No Other
Beachside locations with a strong sense of community and accessible shopping hubs are very attractive for families, young couples and individuals looking to lease. With public transportation, great school zones and incredible beaches nearby, Bayside offers quiet, safe living with the best in shopping, gyms, restaurants, medical services and essential facilities. Considered by many as the best location to buy, investors also have the luxury of retiring and living by the beach - if they decide to later in life.
If you are thinking about investing Bayside, speak with a friendly selling expert from C&G on the latest properties available for purchase. Contact Chisholm and Gamon today.