Hi all, was just thinking about the Melbourne market comparing East vs West. Generally speaking, the East is more expensive than the West, even 15-20km's out.
So this raises a question and that is, what is it like in heavily populated area's around the globe when comparing West vs East vs South vs North? Is there a big price difference between areas like it is in Oz?
In 10-20 years, will area dictate price or will distance to the city be the main driver in Oz? I'm currently looking at the Western suburbs of Melb and it's cheap compared to the East. If distance to city is the key driver and the state becomes heavily populated which has been forecasted due to immigration, theoretically speaking the West would be a great area to invest in? Eventually, it will catch up.
What's it like in Londan, Paris, New York, etc? What's the key driver for house values in these heavily populated cities, distance to city or area?
So this raises a question and that is, what is it like in heavily populated area's around the globe when comparing West vs East vs South vs North? Is there a big price difference between areas like it is in Oz?
In 10-20 years, will area dictate price or will distance to the city be the main driver in Oz? I'm currently looking at the Western suburbs of Melb and it's cheap compared to the East. If distance to city is the key driver and the state becomes heavily populated which has been forecasted due to immigration, theoretically speaking the West would be a great area to invest in? Eventually, it will catch up.
What's it like in Londan, Paris, New York, etc? What's the key driver for house values in these heavily populated cities, distance to city or area?