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It’s time you bought that property in Oakleigh

By Matt Hurlston

Whenever you are planning on buying new real estate in a suburb such as Oakleigh, it's comforting to know that the local economy is doing well. After all, it should be flourishing, growing and stable, right?

Thanks to recent data from the City of Melbourne, we can see that Victoria's capital is indeed the right place to buy property.

The current Melbourne climate

According to the Development Activity Monitor released by the council, it is estimated that around 6,000 new dwellings will be completed in 2015. The annual average is only half of that, based on figures dating back to 2002.

"The figures from the latest Development Activity Monitor data reinforce that Melbourne's economic outlook is positive," said Lord Mayor Robert Doyle. "There is great confidence in our city."

A press release from the city council also suggested that 87 more developments have been approved, which will boost the city by 19,000 dwellings. There are upward of 23,500 currently awaiting approval, too.

But of course, each suburban area of a capital city is different from the next, so how does Glen Eira and the surrounds look? 

If you aim to purchase real estate in Bentleigh, Carnegie or anywhere else in Melbourne's Southeast, you're in for a pleasant surprise. RP Data suggests that there were 4,874 housing approvals here during the last financial year, which is more than anywhere else in Australia's most-populated areas.

"The City of Melbourne is working hard to ensure we have diversity and quality in our housing stock and the infrastructure to meet the needs of our growing community," added Mr Doyle.

To help you into the Melbourne Southeast property of your dreams, contact us here at Ray White Carnegie. We have over a decade's experience in the local market, and have numerous properties listed on our site at all times – both for sale and auction. 

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