Concretebroker

Published on 1/30/2021

Published by marketing@concretebroker.com.au

Melbourne's Property Market

What's happening in 2021 and the best places to buy

Melbourne is the coastal capital of the southeastern Australian state of Victoria. At the city's centre is the modern Federation Square development, with plazas, bars, and restaurants by the Yarra River. In the Southbank area, the Melbourne Arts Precinct is the site of Arts Centre Melbourne – a performing arts complex – and the National Gallery of Victoria, with Australian and indigenous art.

Melbourne's Property Market

Westpac updated its forecasts in late November to predict dwelling prices in Melbourne would grow by 2 per cent in 2021 and 8 per cent in 2022.Cheap liquidity, continued strong first home buyer activity, as well as renewed investor interest will also play their part in Melbourne’s recovery," O’Brien Real Estate director Dean O’Brien, of  said.

According to Mr O’Brien, family suburbs with great access to schools, such as Berwick, Essendon, Blackburn, Glen Waverley, Bentleigh and Bundoora, will continue to be very popular in 2021.

Investors, meanwhile, will benefit from suburbs that are in close proximity to CBDs, transport links and universities, such as Footscray, Brunswick, Caulfield North and Geelong.

“The most popular growth corridors for first home buyers in 2021 will be similar to 2019 and 2020. The postcode of 3064 in the city’s outer north will continue to be the most popular followed by 3029 in the city’s outer west, along with Clyde North and Officer in the South East.

“New land that has opened up in Sunbury, Plumpton and East Pakenham is proving to be popular as buyers look for new digs. Regionally, across Victoria, we see great opportunities for growth in Ballarat and Geelong along with Bendigo, Wangaratta and Warragul,” Mr O’Brien concluded.

Concrete in Melbourne

If you are looking to purchase concrete in Melbourne this year to upgrade yopur existing property, build a new property, or even install a new driveway, visit Concrete Shopper Melbourne for great prices on concrete with excellent service. Concrete Shopper supplies concrete throughout Melbourne and specialise in everything from small minimix loads to large concreting projects. Even if its simply advice on your next concreting project, or tips on how to order concrete, whether you require a concrete pump, or what strength concrete your require, concrete shopper can assist.

Government assistance for property in Melbourne

Treasurer Josh Frydenberg

Government incentives have helped a limited number of buyers to purchase with a low 5 per cent deposit while avoiding lender’s mortgage insurance, while stamp duty concessions are on offer and grants are available to build new homes in Melbourne. First-home buyers are now at their highest level since the GFC. 

The First Home Loan Deposit Scheme was expanded from Oct. 6 to support the purchase of a new or newly built home. About 20,000 people have already used the program, which allows them to purchase their first property with a deposit of as little as 5%, Treaurer Josh Frydenberg said at the time.

“The government recognizes that saving a deposit has become a more significant barrier to entering the housing market than the ability to service a home loan,” Frydenberg said. “The additional guarantees will be available until June 30, 2021, and will drive more construction and support jobs as part of our economic recovery plan.”

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