If you’re watching the Melbourne suburbs market following our last posting on the Australia Outlook for 2016, here are some tips to give you a heads-up on what Melbourne suburbs to look out for in this city this year.
To recap, Melbourne did pretty well last year, ending 2015 on a high auction note compared to other cities in Australia. However, median house prices growth is expected to moderate this year, yet the increasing population and relatively low interest rates will continue to fuel interest in the property market in Melbourne.
Real Estate Institute Victoria (REIV) expects moderate growth across the city in 2016, with further price increases in a range of suburbs in Melbourne’s inner, middle and outer rings.
Based on research by the REIV, here are the suburbs to look out for:
West of CBD
North of CBD
East of CBD
- Burwood East
- Mount Waverley
- Glen Waverley
South of CBD
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