Reasons to Invest in Preston, Melbourne
When looking at reasons to invest in an area, it is important to look at both the demographics of the area and its rental demand. By looking at the graphs above, there is a clear demand for rental properties in Preston.
Source: Realestate.com.au, Domain, Your Investment Property, Core Logic
Population in Preston is predicted to grow by 13% in the next 20 years, this will bring about substantial change in the area and will therefore impact the value of any investment owned in your favour.
Source: Forcast.id, ABS, Core Logic
The median apartment prices in Greater Melbourne are substantially high, but given the annual growth, in comparison to Brisbane and Sydney, we can say that investing in Melbourne would be a safer and smarter choice.
Preston’s large affordability gap between home ownership and renting has shifted consumer demand to apartments as a housing option.
Source: Domain, Realestate.com.au
In comparison to its neighbouring suburbs, Preston is more affordable, has a higher rental yield and rent is advertised at a marginally higher price given the average cost the apartments in the area are sold at.
Source: Forcast.id, Core Logic, Your Investment Property
Matteo Apartments, 63- 71 Plenty Road Preston
A vibrant and creative neighbourhood only within 9km from the Melbourne CBD Region. A destination for food, drinks and leisure, Matteo Apartment is at the centre of it all, surrounded by a ring of trendy neighbourhoods including Northcote and Thornbury. Matteo Apartments highlights the best in cosmopolitan living.
Matteo Apartments is perfectly positioned with transport options, cycling paths and bustling shopping strips right at your door step.