As the nation's economy continues to strengthen, the number opportunities for property investment across Australia rises as well. The latest data from the Australian Bureau of Statistics has highlighted the growth of Victoria's retail spending market, which could present a fantastic opportunity to invest in commercial property for local residents of Carnegie real estate.
Retail sales in Victoria rose by 6.5 per cent over the last 12 months, with Treasurer Michael O'Brien stating the figures highlight the rising confidence of buyers across the region.
"Retail is a growing sector for Victoria. Not only are business showing they have the confidence to invest and grow, consumers are demonstrating that they too have confidence to buy," said Mr O'Brien in a 4 September statement.
This is spurred on by the future development of new infrastructure across the state – including the expansion of Chadstone Shopping Centre, which is expected to create 7,000 construction jobs and an additional 3,400 permanent jobs after completion.
Anyone interested in securing their own piece of property in the local area should get in touch with Matt Hurlston at Ray White Carnegie. His expertise and experience in the market can help buyers achieve their property goals in the future.