Cranbourne an opportunity again!
Cranbourne East serves as faster growing suburb by headcount for last 12 months ending in June 2017. It increased by over 7000 people giving a rise of 27% of the total population in 12 months.
Recent reports suggest that outer suburbs serve as a prime preference for new overseas migrates due to their affordability. Nearly two third of the population increase in recent years in Victoria was by overseas migrates. Government measures to control the property prices seems be in shadow for these new suburbs which are in high demand for first home buyer immigrants where prices keep on being at the same pace.
Tarneit in west turned out to be another preferred spot for immigrant and it prices there are also taking no turn back due to high demand. Mernda in north with its new train line has remained a good spot for short term as well as long term investor. Mernda more prominent with immigration population seems to have flooded with shopping places and is high in demand for commercial property as well on alongside.
Government new visa for general skilled visa introduced in July 2018 will also attract more immigrants to resulting is continual demand for housing in far outer suburbs and will remain preferred location for new immigration for a long time to see.
With distribution of corporates out of city in different business centres has diversified the white colour working professional into far south east with convenience of finding job in near around business centres then going far up to city for find jobs. This will gradually change the dynamic of Melbourne where property prices were higher near around city. With distribution jobs across different regions the property prices and rental business centres will tend to be higher than change local dynamics of the Melbourne in distant future. Thus, creating opportunities for long term investors.
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Newspaper - The Age - 25/04/2018
