Nestled on the southern city fringe – south Melbourne is the perfect suburb for the ultimate work life balance. With South Melbourne Beach, Albert Park Lake and the Botanical Gardens only a stone’s throw away it will be hard to imagine wanting to spend much time indoors. However once you are done exploring the numerous parks and and airy outdoor recreational activities, South Melbourne offers an array of cafes, bars and restaurants, as well as a world class gourmet market and a boutique shopping strip. The balance between work life and fun will never be as easy as it is in South Melbourne with transport options – both public and roads – access in and out of the beautiful suburb is easy, cutting commuting times significantly.
Average unit/apartment purchase price is $560k in the suburb with average rent received for a unit or apartment $495 per week. A two bed unit or apartment in the area boasts a median price of $560 with a 68% auction clearance rate. The rental demand in South Melbourne is strong with 55% of current residents renting their home with a strong trend towards the young professional aged between 20-39.
South Melbourne’s convenient location and immense amenity – both indoor and outdoor – coupled with the its large rental demand is what makes the suburb truly an investors dream.
For more information on investing in property in South Melbourne, contact Solid Investment Property on (03)9690 2666