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Early Careers: Aged 25-34 – Educated millennials and younger blue-collar workers at the start of their careers.
Younger Professionals: Aged under 35 – Young, successful, career-driven professionals with no children.
Established Families: Aged 35-54 – White collar families with school-aged children.
The statistics above have been sourced from Mosaic demographic data that is the copyright property of Experian Australia Pty Limited (or its licensors).
See why early careers and younger professionals love living here by checking out the top bars, restaurants and retail. Discover what kind of lifestyle the locals enjoy and make an informed choice.
Repeatedly voted the world’s most liveable city, Melbourne has gone through various periods of boom and growth throughout its history - most significantly during the gold rush – without ever straying far from ‘Hoddle Grid’s historical layout.
Melbourne is the beating heart of all business activity in Victoria. Between the friendly locals, hidden laneways, and thriving social scenes, Melbourne’s vibrant culture and hospitality meets - and exceeds - the demands of this world-renowned city on a daily basis and harbours plenty of investment apartment opportunities for property investors.
With a large number of students and office workers calling Melbourne home, the demographic is globally diverse and transient. With a number of renowned university and college campuses in the area, combined with Melbourne’s position as a business and financial hub, the locals are unsurprisingly young and outgoing. The city’s offerings go above and beyond meeting the demand for the convenience of centrally located leased apartments. The city of Melbourne is the ideal setting for investors looking to buy one or two-bedroom investment properties close to nearly every urban amenity imaginable. The lifestyle appeal and large pool of prospective renters seeking to live in the capital city only adds to its property investor appeal.
Every Melburnian will proudly tell you that their city is the cultural capital of Australia. Life in the CBD offers a never-ending supply of cool bars, high-end retail, low-brow laneways, world-class restaurants, theatres and an energetic nightlife.
The vibe is busy so rest assured, you will never be bored in Melbourne. Most weekends, Federation Square is ‘the’ social hub - usually packed with people and home to the many events and festivals the city hosts throughout the year. Entertainment, both free and paid, is a huge drawcard not only for locals but also for visitors – swelling the city’s numbers with interstate and international travellers.
The City of Melbourne’s vibrant lifestyle, amazing public transportation options and plethora of amenities has resulted in a high demand rental scene, meaning finding stable renters should not be difficult.
From both an investment and owner-occupier perspective, buying in the heart of the world’s most liveable city is remarkably affordable. A 1 bedroom apartment costs around $340k with rent for a similar apartment at around $420 p/w - making Melbourne investment apartments a sound investment.
While there has been a significant boom in apartment construction in Melbourne over the past few years, with more on the way, demand remains extremely high with the local population predicted to almost double within the next 10 years.