Melbourne Property

Melbourne is well known for its rich ethnic diversity and cultural heritage. Melbourne is regularly voted in international surveys, such as the Economist as one of the top cities in the world to live. It get high scores in health care, culture, the environment, education and infrastructure.

Melbourne has many parks and gardens and even in the surrounding suburbs, there are huge tracts of green spaces with recreational facilities and one of the best cycling tracks in the country. The city of Melbourne has a distinct European feel with it heritage buildings and outdoor cafes which line many streets. Melbourne is well known for its music and cultural events and there is always something to see and do in the city. Melbourne has many great shopping centres, with some “strip” shopping streets in the inner suburbs and huge malls like Chadstone in the eastern suburbs. Queen Victoria Market and the various other local markets are fun and inexpensive to shop at, with some of the freshest produce available.

The weather is something people from Melbourne love to talk (or complain) about and Melbourne is famous for having “four seasons in one day”, where it can be rainy one minute and sunny the next. The summer is long and warm, spring and autumn are also very pleasant, winters are fairly mild, but you can reach the ski fields in around 3 hours.

Melbourne has long been a competitor to Sydney commercially speaking. Job opportunities are very good in Melbourne and its schools and universities are world class. Housing prices tend to be more attractive than Sydney, but more expensive than the rest of Australia.

Melbourne Area Guide Melbourne sits at the top of Port Phillip Bay. The suburbs spread mostly around the eastern part of the bay, but also to the west and north of the city and to the Dandenong ranges. Melbourne CBD has typically been a commercial area only and only more recently has it become a place for people to actually live with the sprouting up of various high rise apartments.

Melbourne’s inner suburbs are the most sought after (and expensive!) places to live. The plots of land to tend to be on the small side. Apartments and townhouses are also very common. Most people however who live in the inner suburbs enjoy the convenience of having shops and restaurants close by.

Melbourne City’s Top Real Estate Agents

Melbourne has almost 700 real estate agents in total, working for over 300 agencies. The top agent not surprisingly, sells mostly apartments. His 40 plus sales for the past 12 months have netted over $15 million.

The second top selling agent for Melbourne, has his office about 7km out of the CBD in a suburb of Melbourne, which does go to show that you may need to look further out from the CBD to find a top selling agent. He has sold over 40 properties in the last 12 months with 30 of those in the CBD. He has total sales of over $17 million for the past 12 months.

Some agents in the CBD also employ Chinese speaking staff and have multilingual websites, which could be good to go to, if you are looking to sell a luxury high rise apartment, which many Chinese people seem attracted to buying.

Melbourne’s Highest Price Suburbs

Median house prices by suburb:

Toorak – $4,500,000
East Melbourne* – $3,520,000
Cantebury* – $2,720,000
Brighton – $2,715,000
St Kilda West* – $2,427,500
Hawthorn – $2,260,000
Camberwell – $2,146,250
Balwyn – $2,068,750
Middle Park* – $2,000,000
Caufield North – $1,994,000
Richmond – $1,222,500
* Less than 30 sales recorded

Source: http://www.reiv.com.au/property-data/high-performers/million-dollar-suburbs

Melbourne’s Fast Growing Suburbs

Box Hill – Melbourne’s gateway to east, an area popular with Chinese families with great shopping and sporting facilities.

Read our article here on how much real estate agents charge in Melbourne/Victoria.

Best City Real Estate Agents

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