Developments in the fringe suburbs of southeastern Australia’s coastal capital city, Melbourne, has begun. In a report published by Savills Research Victoria, certain factors that can be attributed to the latest trends in the real estate market were identified. For one, developers have taken this route in response to the current market condition in the city’s central business district. In particular, the low vacancy rates result in expensive rental fees of commercial spaces.
It is also worth noting that South Melbourne is close to the central business district. That means its workforce can take advantage of an efficient transport system and social infrastructure which are of easy access to them.
If South Melbourne satisfies the needs of today’s workforce, then it is indeed an attractive alternative.
The Allure of the Fringes
The coastal capital has long been serving its purpose. Perhaps, the speculative developments currently taking place in the fringes are timely.
Progress spilling over to the nearby locations can be regarded as a good sign. After all, this translates to an increase in the number of people who will benefit from the expanded economic and social developments.
The Destination for Career People
One of those who can reap the aforesaid rewards is the millennials. These people are among today’s workforce.
The millennial workforce’s needs for amenities available throughout the day may be better served by places which still have the available spaces and resources to accommodate them. These can be the places that are not yet too crowded, unlike the more developed ones within the same vicinity. Since the millennial workforce is just starting, they can also benefit from less expensive prices that living and working in the fringes offer.
It Pays to be First
If you are looking to secure a spot in the developing fringes, now is a good time to start choosing what could be your next address. Be among the first ones to take advantage of the positive changes happening outside the coastal city.
If you are interested to explore properties for sale in the area, do not hesitate to contact us. Feel free to send us your requirements over. This way, we can better determine which among the options will suit your needs, expectations, and limitations. The following lines of communication are always open to serve you: phone: 03 9226 9222, fax: 03 9078 6315, email: info@nationalbrokers.com.au.
