Smart Investment Property has identified key Victorian regions tipped for strong growth in their article here - Investors’ goldmine: Where are Victoria’s next star suburbs? - Smart Property Investment
Infrastructure development, fast population growth, and affordability are the key drivers for growth as discussed in the article.
Frankston, Greater Geelong, and Yarra (Inner Melbourne) are the 3 regions identified as being tipped for long-term growth and opportunity.
Lets run some quick numbers below by picking 1 suburb from each of the 3 regions - Skye (Frankston), Ocean Grove (Greater Geelong) and Abbotsford (Yarra region).
Skye
* Median Price/Capital Growth - $800,000 (has seen annual capital growth of 5.84% over last 10 years)
* Rental Yield - 4.08%
* Vacancy Rate - 1.56%
* Vendor Discount - -5.16%
Ocean Grove
* Median Price/Capital Growth - $912,500 (has seen annual capital growth of 5.57% over last 10 years)
* Rental Yield - 2.94%
* Vacancy Rate - 3.15%
* Vendor Discount - 1.73%
Abbotsford
* Median Price/Capital Growth - $1,310,000 (has seen annual capital growth of 1.51% over last 10 years)
* Rental Yield - 3.07%
* Vacancy Rate - 1.55%
* Vendor Discount - -7.15%
