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Hotspotting


Apr 11, 2018

Terry Ryder from Hotspotting on the extraordinary price growth in the outer ring suburbs of Melbourne in the past 12 months as shown in the latest Top 5 Regional Victoria Hotspots report

In this episode Terry covers:

  • Local government areas in outer ring areas of Melbourne that recorded double-digit growth in median house prices, some of which have grown more than 20% and 30%
  • The factors contributing to the big price increase including affordability, a strong local economy  and population growth
  • The strength of the growth in the outer-ring areas of Melbourne provides further evidence that proximity to the CBD is not an essential factor for buyers seeking capital growth.
  • That proximity to employment is still a core factor but the reality is that most people work in suburban jobs nodes and not in the CBD
  • Case studies ofthe growth expereince in Wyndham, Hume, Whittlesea and Casey local government areas
  • That downmarket, outer-ring areas do record strong price growth and that affordability is a prime driver of activity and prices, especially true in places where the infrastructure is good.