Looking to sink $350,000 into an investment property in Melbourne? It is still possible.
The Sunday Herald Sun asked three buyer advocates where they would spend the money. More importantly, we asked them to tell us why it is a good investment in a softening market. Catherine Cashmore JPP Buyer Advocates Suburbs: Thornbury and Brunswick. Property: One-bedroom apartment in a boutique block with off-street parking and a central bathroom. Why will it perform in a softening market? Thornbury and Brunswick have excellent shopping, are less than 10km from the city, close to train and tram and a short hop from RMIT and TAFE which should ensure reliable tenancy. Both have seen an increase in their median values during the first quarter of the year. Fairfield, Preston West, Abbotsford, Alphington and pockets of Flemington and Kensington are also worth a look, but don’t forget when buying a one-bedroom apartment banks have stricter lending criteria.
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