Fastest Selling Melbourne Suburbs Ripe for Property Development
Melbourne properties are currently selling fast. This is great news for property developers ready to sell. Recent data, gathered from Domain, even show many properties are only lasting 46 short days on the market before being snapped up by buyers.
This adored city has always been a popular destination for home buyers, but what has triggered such high demand now?
Record-low interest rates and government incentives, such as big discounts on those daunting stamp duty prices, are driving first home buyers to act now and finally get into the property market.
With more buyers than there are properties available for sale, the market is highly competitive and highly lucrative.
Although there is an impressive improvement overall to Melbourne property sales compared to 2020, some suburbs are selling quicker than others.
This makes these areas ripe for property development.
So, which Melbourne suburbs are in high demand and why should you invest in property development now?
THE MELBOURNE SUBURBS YOU SHOULD INVEST IN TODAY
The laidback multi-cultural inner-city region of Brunswick-Coburg is one of the most popular areas to buy-in. With an array of live music, upbeat pubs and beer gardens, it’s not surprising young first-home buyers are snapping up homes after just 46 days on the market.
The Darebin South region, with its many beautiful parks, shopping centre and markets, is also experiencing 46-day property sales. These suburbs include Preston, Reservoir and Northcote.
In Melbourne’s outer North-West area of Sunshine, properties are selling after 49 days on the market. That’s 4 days less than last year, comparing January 2021 to January 2020.
If you live in these popular areas or hot spots like Essendon, Niddrie and Airport West, now is the time to start, or grow, your property investment portfolio. If you’re looking at building a property development in Melbourne, you need an experienced Melbourne townhouse builder.
THE OPPORTUNITIES AND BENEFITS OF INVESTING IN PROPERTY DEVELOPMENT:
Multi-unit developments in Melbourne are consistently sought after due to housing demand. Here are a few reasons why you might want to consider diving into a Melbourne townhouse property development.
- The mortgage pays itself
A Melbourne townhouse or multi-unit development project can be sold on, but if you device to rent out your properties, your mortgage essentially pays for itself long term. Whatever your property goals, our specialist property development designers and professional network will work with you to achieve the best result possible from your property investment.
- Less risky form of investing
Well researched, strategically planned multi-unit developments are highly profitable investments. Property developers can expect average returns of approximately 10-20% net profit. That is the profit after purchase, subdivision and construction, including any associated fees, interest and legal costs. This level of return often outweighs many other investment options.
- No specialised knowledge required
If you are new to multi-unit property investing you don’t need to worry about trying to figure it all out on your own. As specialist property development builders in Melbourne, we offer a turn-key service that will take the stress away and make the process as simple as possible.
GET IN QUICK AND START DESIGNING TO OPTIMISE YOUR ROI
The best multi-unit property investments are those that have been researched and planned for.
After you have sourced, purchased and settled the land, the process of sourcing town planning, consolidating a design and finalising construction can often take 12 months or more. This is why we recommend locking in your multi-unit development contract with your Melbourne property development builder now. So that after completing the necessary planning stage, you can start building in early 2022.
Melbourne based multi-unit builders delcon design and construct recommend taking advantage of the design process to maximise your ROI.
delcon has an incredible team of multi-unit specific building designers who can assist clients with avoiding unnecessary challenges by providing proven solutions before they occur.
Begin your property investment journey now by capitalising on Melbourne’s fastest-selling suburbs. By contacting delcon today you can start the exciting process of planning and designing your multi-unit developments.