Why People in Sydney Wants to Buy Properties in Melbourne | Property Investment in Melbourne Trivia

September 2nd, 2020

Hey guys, I want to discuss today. Why people from Sydney also prefer to buy properties in Melbourne, either to live in or invest? We had a lot of people wanting to purchase property in Melbourne, but they were actually based in Sydney.

So what we found with those kinds of clients is they have been wanting to invest for a while. But the way the property market is in Sydney, it’s smart, expensive, and like a lot of people that don’t want to either they can’t afford it, or they don’t want to spend that much money there. Which will hamper their position or ability to buy another property in the future.

So we get a lot of people inquiring about property in Melbourne because Melbourne’s price point is roughly around 500,000. If you look in the outer suburbs, it’s manageable and affordable and the rental return is quite good as well. So considering all that, those factors they do have, what I find is that the clients from Sydney have a high net worth or just the clients that we’ve seen there, a good amount of savings, if a good amount of equity has a very highly paid income jobs, but they still don’t want to invest in Sydney because of various factors. So Melbourne becomes a very prime position for them to be investing and we get a lot of inquiries. So that’s one of the basic reasons. I think the affordability and still, the capital growth still is there. We have a lot of people moving in and Melbourne is poised to be in terms of population, the number one city in Australia. After some time, I think there’s a, in separate in 2035 or something.

But that makes it cool, attractive for people all over Australia, but also people from Sydney. So I hope that was insightful. I’ll see you in the next video. 

Thank you.