The Melbourne property market is still continuing to outperform other states when it comes to the median price of property. The major factor this is occurring is due to the significant population growth that is occurring in Australia’s second biggest city. There are currently over 5.4million people living in Victoria and this is growing by around 115,000 a year or 2,200 people per week. With new development only bringing 52,000 new dwellings to the market, a shortage of homes is pushing prices up with rental returns following.

Melbourne has invested significantly in planning and infrastructure to make the most of the growing population and build the city in a controlled manner. Based on the current numbers it is expected that Melbourne could overtake Sydney as the largest city in Australia within the next decade. This is not hard to imaging as the city of Melbourne is such a fantastic place to live with a diverse culture that is different to every other city across the nation.

Infrastructure spending is occurring throughout the state with major developments such as the $4.3billion Regional Rail Express project linking Geelong, Ballarat and Bendigo with Melbourne via a dedicated express train service.

Stamp Duty savings when buying off the plan in Melbourne have really helped grow the city. Many investors both nationally and internationally have benefited greatly from these savings and it has encouraged developers to bring new developments to market as quickly as possible. The fascination with Melbourne internationally stems to the Asian regions o the world where thousands of international students come to Melbourne to complete bachelor and masters degrees with many applying for permanent residency after they have finished. This elite influx continues to help grow the city which helps local commerce driving the sate to become better than it has ever been before.

With many new developments being built in Melbourne in the city, city fringe and regional areas, it is important when investing to look for something a little unique and something that is going to continue to be in high demand I the future. Some building amenities can make the difference between another average building in Melbourne and something special that will outperform other similar buildings in years to come.

If you are looking for new apartments in Melbourne it is worth visiting Find Investment Property.