Leading Investment Suburbs - Melbourne

The results are in; what were the best investment suburbs for new apartments in 2015?

The advantage of buying off the plan is simple - the apartment is secured for the price when you pay your deposit. This ultimately means that had you invested well, you could make some serious profit before you even settle on the apartment. 

Paying a 10% deposit to secure an apartment today, in an area that is about to boom, has meant some investors have made a profit of over a $100,000 before the apartment is even built. You should consult your property agent and solicitor before committing to any purchase.

The top 3 suburbs for 2015 are as follows:

- Mt Waverley
- Bentleigh
- Essendon

Mount Waverley’s prospects of investment have skyrocketed with almost a 20% increase in median home-price with a vast array of Asian investors purchasing in the area. Providing there isn’t any serious changes in the foreign investment laws, areas dominated with such foreign interest often provide a breadcrumb trail for a good investment. The average sale of a unit in Mount Waverley is around $780,500, with a weekly rental income of closer to $450 p/w.

Bentleigh and it’s areas close to it (Highett and Beaumaris) have been well documented for the past 24 months. It is convenience of location and amenity that makes Bentleigh such an attractive suburb, particularly to new or soon-to-be families. In close proximity to heavy hitter suburbs such as Brighton and Sandringham, Bentleigh, only a hop, skip and a jump away from the Bayside water, has the convenience of its own train line, as well as the Nepean Highway for any adventures down Melbourne’s peninsula, or the 20 minute drive in to the CBD. Bentleigh has recently joined the Million Dollar Club, with the median home price only recently crossing the mark; the average cost of a unit in Bentleigh is around $600,000 and weekly rental income is closer to $400p/w.

Essendon’s stock in real estate has been up and down for almost a decade - yet it always seems to end up on top. With grand Victorian and Edwardian homes, and some excellent private schools, Essendon has recorded one of its better quarterly growths at 15%. However, whilst some believe Essendon’s “over-supply” of apartments should deter some investors, many believe that things have a way of levelling out - meaning that investors, with the appropriate portfolio could find solace in certain parts of the area.

The remaining suburbs to fill out the top 10 are:

- Newport
- Coburg North
- Preston
- Footscray
- Kensington
- Chelsea
- Geelong West