As an Estate Agent, I’m often asked “What are the Future Capital Growth Suburbs In Melbourne” – in other words,what is a good suburb or area in which to invest for good capital growth over the long term, so I’d like to share with you, the Key Drivers which I believe help identify suburbs which represent good future capital growth over the medium to long term.
Wherever you see new roadworks, hospitals or train stations being constructed, this is in preparation for future growth in population in that area.
The government has always been on the front foot when it comes to providing good infrastructure for new communities.
The government is currently constructing the railway line out to Wollert as at August, 2017, to cater for the influx of rail commuters planning to call Wollert home in the coming years.
I consider Government spending on infrastructure to be the number one Key Drivers To Identify Future Capital Growth
Another sure sign of future growth. A good example of this is the McDonalds outlet opening up in Wollert. Nothing much is happening there at the moment, but the Northern suburbs will be home to the future transport hub, servicing the Melbourne/Sydney transport route. This will bring many jobs and huge population growth in that area.
This is another excellent example of Key Drivers To Identify Future Capital Growth
The government is currently constructing the railway line out to Wollert as at August, 2017, to cater for the cominginflux of new residents
Land developers look for land which is close to major rail networks leading into Southern Cross Station.
This is seen by current developments in Diggers Rest, Rockbank and Wollert, located close to major rail lines
The government recently totally rebuilt the Diggers Rest railway station, electrifying the line right through to Sunbury.
Complete refurbishment planned for the Rockbank station as well as a new station planned for Atherstone on the edge of Melton.
This is clearly seen in the $150,000,000 upgrade and expansion of Woodgrove Shopping Centre in Melton 3 years ago.
The owners of thee complex saw the population expansion coming and have prepared for it.
Since then, new land estates such as Exford Waters and Seventh Bend have arisen, adding to Waterford and Atherstone
I consider this one of the paramount Key Drivers To Identify Future Capital Growth.
Another good example of a Key Drivers To Identify Future Capital Growth is the “Next Suburb Out” scenario.
It’s a good tip to look at the next suburb out from suburbs that have risen in price over the previous 3 to 5 years.
These “sleeping Suburbs” should have established infrastructure such as shopping and public transport and close to freeways or arterial roads,
Good examples of these “sleeping suburbs” are Braybrook, Brunswick, Strathmore, Sunshine, Deer Park, Fawkner and Campbellfeild.
In Geelong, my pick would be Norlane, North Shore, Corio and Rippleside.
Try to look for large corner blocks with evidence of subdivision precedent. Corner blocks are very attractive to townhouse developers and command a higher asking price.
This is never more true than in real estate.
Just because a suburb has stagnated and not risen in price, doesn’t mean that prices won’t rise.
I can remember 30 years ago when nobody wanted to live in Williamstown because of the fuel storage tanks.
Today, public housing tenants in Williamstown enjoy harbor views and a renovators nightmare on a small block sells for over $800,000.
I can take you to Birregurra near Colac where, 35 years ago you could buy a three bedroom home for $20,000.
Today, $20,000 would be a small deposit on a property there and is more busy on a Sunday than during the week.
Many ex Melbournians call it home, all because of the duplication of the Princes Highway to Colac and the unaffordability of Lorne.
Lorne is only 25 minutes drive away. It also helps that the Melbourne to Warnambool train stops in Birregurra as well.
It always pays to do your homework and, before making any real estate purchase, please read the Due Diligence Checklist
Well, that’s it in a nutshell. If I can be of any assistance with your real estate needs, please feel free to email me.