Buying property in Melbourne Australia

April 12, 2010 - PRLog -- Figures from the Australian Bureau of Statistics (ABS) shows that over the past year, the annual population growth for Melbourne, Australia, increased by 2%. Melbourne is growing by more than 200 people a day, which adds up to almost 1,500 extra people a week. Presently, there is the equivalent of 2 full 747’s landing in Melbourne every week with new permanent residents and they all need somewhere to live.

The demand for inner Melbourne city living has been increasing on a compounding basis for decades.

“Even with this increased level of demand, supply is nowhere near where it should be to meet the demand” says Darin Hindmarsh, CEO of Intellichoice. “This undersupply is a result of the restrictions and increased challenges that property developers meet in obtaining funding for new building construction.”

This has resulted in historically low vacancy rates, and competition for the purchase of residential property by both owner occupiers and investors, resulting in increased rentals and capital values.

“If we focus in particular on inner urban residential property, this supply shortage in relation to demand is acute” says Hindmarsh.

Melbourne’s population size, growth, economic strength and breadth renders its property market utterly secure and medium-to-high density property in the best inner urban areas is under siege from tenants, owner occupiers and investors with no sign of this demand abating.

“The chronic shortage of supply and the very strong underlying demand for inner city living ensures future returns and security for the long term property investor” says Hindmarsh.

Hindmarsh states that “if you purchase the best property close to the city centre, your long term returns will be significant.”

To take advantage of the demand for inner Melbourne living, Intellichoice has a variety of new property developments in the heart of Melbourne CBD. Prices start from AU$340,000. Visit http://www.intellichoice.com.au/investment-properties/aus... to view the wide range of property developments in Melbourne.

These brand new off-the-plan developments in the Melbourne city centre mean you are close to everything – shops, transportation, restaurants, vibrant arts and cultural scene in Melbourne and more.

Don’t miss out on this opportunity to purchase an inner city apartment at prices never to be repeated.

Visit www.intellichoice.com.au to view the wide range of properties in Melbourne or call +61 7 3624 1900 to speak to a property and finance advisor at Intellichoice. Intellichoice can also assist clients with a home loan or investment loan with their property purchase. Visit http://www.intellichoice.com.au/home-loans.html for more information about the various home loans available.

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