If you’re looking to build an investment property, you already know that location is key to creating a valuable asset. If Melbourne is the area you want to invest in, here are our top suburbs for investment properties in Melbourne.
Tyabb
Tyabb is a great suburb for those who don’t have a lot of funds to invest, being very cheap when it comes to property. However, there’s great growth potential, with the median sales price changing 47% year on year. You can also expect a great rental yield, with an average yearly yield of 3.98%. Tyabb is a desirable location, a small town with a homey feel and a great community, only 55 kilometres from the CBD. It’s safe and friendly, with great schools and access to medical facilities. It’s a great location for families and professionals who aren’t keen on nightlife and the stress of city living. You won’t struggle to find renters, that’s for sure.
McCrae
Like Tyabb, McCrae is located on the popular Mornington Peninsula, where property prices are growing rapidly. With a low vacancy rate and 24.3% annual change in property prices, McCrae is a great choice when it comes to investment. While the rental yield isn’t the highest, the real benefit is the rapid growth of property prices. There are plenty of people looking to live in McCrae. This area is popular mostly with families and retirees, being a safe and quiet place with easy access to parks and other green areas. Plenty of professionals also choose this as their base to commute from.
Sunbury
Sunbury is one of the most popular areas to invest in right now, and for good reason. Prices here are affordable, which means you won’t need a huge amount to get a good property, but the growth rate is strong enough that your property will quickly increase in value. Sunbury is regional with easy access to the CBD, which makes it desirable for renters. The vacancy rate is 0.87% while the rental population is 19.09%, the perfect combination for investment properties. It might be hard to get your hands on a property in this popular area, which is why you’re probably in luck if you plan to buy some land and build your own house.
Mont Albert North
Located only 14 kilometres from Melbourne city centre, Mont Albert North will always be a desirable location. This is another situation where the rental yield isn’t the highest, but the strong growth rate compensates for that. The yearly change in median sales price is 21% and the rental yield is 2.22%. Mont Albert is a safe and friendly neighbourhood with beautiful streets and parks, making it a favourite among Melbourne residents.
Mount Martha
Our final suggestion on this list is Mount Martha. This is where you should be looking if you want a high-value investment. Prices are high in this area, and rental yields are quite low. However, this area is ideal for beautiful, luxurious homes in gorgeous surroundings. It’s a great place for vacation properties, and for people who are keen to get high-earning, safe and reliable tenants. With a family-friendly atmosphere and access to great shopping and beautiful beaches, you’ll always find tenants in Mount Martha. If you’re seeking a specialist custom home builder in Melbourne to make the vision for investment property a reality, it’s time to call on the expertise of the Xircon Homes team.