Friday, 24 November 2017 Sydney
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Invest in Victoria::

Victoria’s population is projected to reach 6,600,000 people by 2051. That’s an increase of 1.5 million people (or 30%) from its current population of 5,128,000. Melbourne, Victoria’s capital city is the most populated area within the state with a current population of 3,744,000.

The state government has implemented the Melbourne 2030 strategy to assist in coping with the large surge in population and has identified key areas where we are likely to see development of housing and infrastructure.

Economy

 

Victoria occupies only 3% of Australia’s total landmass, yet accounts for 25% of the nation’s economy. The state has enjoyed an average growth rate of 3.6% over the 10 years to 2005-06. With AAA credit ratings from both Standard & Poor’s and Moody’s Investor Services, Victoria has one of the strongest and most resilient economies in the world

Lifestyle

 

Victoria is a diverse state with beautiful beaches, wine growing areas, snowy mountains and farming country. It’s capital is Melbourne, a sophisticated centre. Melbourne, the city itself, is well-designed and located amidst parklands along the banks of the Yarra River, just a few kilometres from Port Phillip Bay. With the sea to the south and mountains to the north, the city offers something for everyone.

Melbourne has a vibrant intellectual and cultural centre and a creative and entrepreneurial soul. It has extensive parks and gardens, spacious suburbs, affordable housing, good education, accessible public transport and a modern road system. With a low crime rate, it provides a safe and healthy environment in which to live and work.

In terms of entertainment, Melbourne has a huge selection of cosmopolitan cafes, restaurants and clubs, a vibrant arts scene and world renown sporting events.

Melbourne continues to be rated one of the best cities in the world for expatriates to live in, according to a survey conducted by the London based, Economist Information Unit. The survey takes into account over 40 factors, across five categories: stability, healthcare, culture & environment, education and infrastructure.

 

Melbourne property prices

 

The Melbourne housing market has recovered almost all of the value lost during 2008 with the median price approaching the 2008 peak of $450,000.

All segments of the housing market are seeing a recovery with the upper end increasing by 14.3 per cent and the affordable segment by 6.6 per cent.

Affordable suburbs around the median price have also shown excellent capital growth over the year. The unit and apartment market has recorded an almost identical increase as houses with the median price increasing by 8.3 per cent over the quarter from $360,000 to $390,000

The metropolitan median price of a house in Melbourne has increased 9 per cent from $405,500 to $441,875. The improvement can be attributed to low interest rates, confidence in the market, continuing population increases and the financial assistance to first home buyers.