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CBD Boom
Posted by   |   April 09th, 2014   |   Categories: Industry News, Market Trends, News

There has been a recent boom in the number of residents living within and nearby Melbourne CBD, according to The Age’s Peter Martin; and it’s becoming clear that interstate cities are also following this trend. In nine years alone, we’ve seen the population of Melbourne’s CBD double in size.

It’s thought that this trend won’t die down any time soon- according to the Bureau of Statistics; who has foreseen that by 2050, the percentage of Australians living in capital cities will increase to 72%, which is a 6% increase of the current CBD population. This population growth is sure to put pressure on the need for rental properties.

Hot Auction Bidders David, believes that with this statistic in mind, now is a great time to invest in a rental property. However, potential investors should also be wary of buying certain apartments because some complexes have not yet endured capital growth, and the banks still view CBD, Docklands, and Southbank as ‘high risk’ areas. To ensure you purchase in the best ‘on the rise’ area, you should have a Hot Auction Bidder by your side!

 

Full article: http://www.theage.com.au/victoria/population-record-rise-in-city-dwellers-melbourne-tops-nations-growth-rate-20140406-3673v.html

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