Melbourne CBD - live, work, entertainment all in one spot
Planning to live or buy a property in the Melbourne CBD?
Melbourne's Central Business District, better known as the Melbourne CBD has the highest number of businesses and residents in a small area in the municipality of the City of Melbourne. With retail shops, financial, legal, administrative offices, restaurants, tourist attractions and hotels, the CBD is certainly the place that offers all these services in one spot.
With grungy laneways, funky coffee shops, latest restaurants, hidden bars and clubs, the CBD offers a vast choice of entertainment.
Surrounded by beautiful parks such as the Royal Botanic Gardens, Fitzroy and Carlton Gardens, with fresh produce markets such as the Queen Victoria Market, close proximity to the beach and Docklands Marina, it is easy to escape the hustle and bustle of the city and relax on a sunny day during the weekend. You also have the bonus of access to Free Tram travel within the Melbourne CBD.
With easy access to Universities, offices, airport and public transport, buying a property in the CBD is a good purchase as an investment property to rent to students or white-collar workers that want services at their fingertips.
Property prices
With the ever-evolving building of residential towers in the CBD, apartment living is the way to go in the heart of the city with a large variety of styles and views, it all depends on your taste!
The median unit price in Melbourne last year was $509,999. If you are looking for an investment property, consider houses in Melbourne rent out for $400 PW with an annual rental yield of 3.0% and units rent for $375 PW with a rental yield of 3.8%. Based on five years of sales, Melbourne has seen a compound growth rate of -1.1% for houses and -1.6% for units*.
Looking for a loan to buy a property in Melbourne?
If you are looking to buy a property as your first home, next home, or an investment, we are here to help make your journey smoother with our expert advice. Our local Melbourne brokers know the area well and they can help and guide you through the whole process.
Start your home loan journey today
Book a 10-minute phone meeting with a consultant of your choice at a time that suits you or call our Mortgage Choice Melbourne office on 03 8602 6777!
*Data from realestate.com.au updated in July 2021.
