If you're thinking of investing in real estate in Bentleigh, you might know that Melbourne's property market has been moving from strength to strength over the last year.
Headlines throughout the year have mentioned high clearance rates, a great volume of homes going on the market and, more importantly, strong value increases. Overall, momentum has been through the roof. But how does the city fare when being looked at from a more holistic view?
A December 6 release by CoreLogic RP Data explores just how much growth Melbourne property has undergone since it started making its way up the cycle. The median price of houses in our city increased in value by a whopping 38.3 per cent from May 2012 to November 2015, bumping it up to $675,000. If you purchased a home around that period, you could be looking to reap a capital gain of $165,673.
From June 2012 to November this year, the median price of units in Melbourne hiked by 15.1 per cent to $503,500. Like in most cities, the value growth of units wasn't quite so dramatic, but was still a healthy figure nonetheless.
While headlines show that the market is indeed cooling with price growth slowing substantially, it's by no means indicative of poor investment potential. Capital gains will always find a way in a thriving city to trend back upwards after a period of plateauing. In the mean time, you can reap rental income and secure yourself a steady secondary cash flow.
For all the benefits and incentives that come with property investment, it's by no means easy. Finding the right real estate that will pay off with great returns isn't quite black and white. Get connected with Matt Hurlston and the team at Ray White Carnegie, and we'll show the range that's on offer in one of Melbourne's great suburbs.