Regardless of market trends there are areas of Melbourne that have excellent properties that are reaching record prices.
If you have 450K and want an investment it's my opinion that you should purchase an apartment in a blue chip suburb that is more resilient to down trends and will continue performing year in year out. I would buy a capital growth property as I've no need at this stage to put tax minimization before growth.
450 would get a nice 1-2 bed apartment that ticks most of the boxes in good areas like:
Elwood;
St Kilda;
South Yarra;
Windsor,
and Williamstown.
If you wanted to speculate one could look at potential growth areas on the outer western fringe where 450 could buy land. Melbourne has the fastest growing population in Australia (source: ABS Census 2011) and it's in these areas... Fundamental population growth, job creation, income increments and new infrastructure will drive prices over the next 20 years.
If you have 450K and want an investment it's my opinion that you should purchase an apartment in a blue chip suburb that is more resilient to down trends and will continue performing year in year out. I would buy a capital growth property as I've no need at this stage to put tax minimization before growth.
450 would get a nice 1-2 bed apartment that ticks most of the boxes in good areas like:
Elwood;
St Kilda;
South Yarra;
Windsor,
and Williamstown.
If you wanted to speculate one could look at potential growth areas on the outer western fringe where 450 could buy land. Melbourne has the fastest growing population in Australia (source: ABS Census 2011) and it's in these areas... Fundamental population growth, job creation, income increments and new infrastructure will drive prices over the next 20 years.
