According to a survey by the Economist, four of the top ten most livable cities in the world are located in Australia, with a higher percentage than all other countries. Melbourne city has repeatedly been elected as the most livable city in the world seven years in a row.
Melbourne’s Central Business District is at a tipping point ，apartments and educational institutions will replace office buildings to become the main building uses in the city, an urban design director has said.
According to official data, Victoria’s population is growing at a rate of 2.4% per year, faster than any other Australian state, which raises concerns about how to place a growing urban population.
As urban residents seek the shortest commuting time and convenient lifestyle, a large number of apartment buildings and student dormitories have emerged in the CBD.
In addition, complying with the increasing number of new arrivals has also made the Melbourne CBD housing market a considerable amount of money. Riding on the reputation of a livable city in the world, it continues to attract a large number of immigrants to work and live in this country. The government’s favorable policies and developer’s product response have made the Melbourne CBD more and more popular, and therefore contain unlimited development.
According to the Australian Bureau of Statistics, as of November 2017, building permits for units and apartments increased by 5.6%. Although the number of newly-built apartments is high, Domian’s chief economist Nicola Powell said that Melbourne’s inner-city apartment prices will continue to show quarterly growth. She said that the population of Melbourne is accelerating, and that the number of immigrants from overseas and other states has increased. This will increase the current demand for apartments and is the strongest support for housing prices.
At the same time, she believes that the current entry-level needs have been ignited, which will help promote the growth of low-end markets. Thanks to the Victorian government’s stamp duty and first-time homeownership allowances, the amount of loans for first-time home buyers hit a record high since 2009.
Bloxham, HSBC’s chief economist, said that HSBC expects the market will show some signs of slowing down, but Melbourne’s housing prices are still growing. It is expected that the increase will decrease from 11% in 2017 to 7% to 9% in 2018.
Contact us at Skysea International and see some great oppotunities here in the Melbourne CBD.
Located in the heart of the Melbourne CBD, Skysea International Group was founded in 2006 with a very clear vision in mind, to provide local and international property investors with superior customer services unmatched in the industry. We aim to shine in every area of our business. As an integrated enterprise, we apply our insight, experience, intelligence and resources to help clients make informed real estate decisions. We have multiple subsidiaries providing a wide range of services to our valued clients, consisting of buying and selling of real estate, investment advisory, property and building materials development and immigration planning. With a dedicated team of investment advisors and sales professionals, we listen to and respond to your needs and work in partnership with you to achieve your real outcomes with properties.