Melbourne Apartment Market – Is it worth the investment?
Melbourne is the most liveable city in Australia, and the third most liveable in the world, according to the most recent Global Liveability Index. With strong investment in the city’s infrastructure, healthcare and education and a thriving culture, Melbourne’s property market continues to be highly sought after by investors.
According to CoreLogic, Melbourne’s median apartment price currently sits at $614,299, which is significantly lower than Sydney’s median of $848,961. The gap between median house and apartment prices in Melbourne is now 52.5%, providing a very attractive option for investors looking to capitalise on the city’s growth potential.
Melbourne has recently overtaken Sydney as Australia’s most populous city. And with a rapidly growing population on Melbourne’s fringe, the potential for growth in the Melbourne apartment market is too great to ignore.