I have bought for a number of Sydney clients - mainly investors. Below is why BIG picture - provided you have carefully selected the right Melbourne property & not overpaid - I think Melbourne is the better option.
Here is why:
Distance from CBD
Melbourne > Sydney
We can purchase far closer to the CBD in Melbourne than in Sydney at the same price point.
Demographics
Melbourne > Sydney
Based on the population growth forecasts of the Australian Bureau of Statistics (ABS) Melbourne population is growing at a faster rate & Melbourne will become Australia’s most populous city - it’s a case of when not if. Faster growing population = increased demand = pricing growth.
Infrastructure & Liveability
Melbourne > Sydney
Melbourne has a clear public infrastructure advantage over Sydney - particularly Western Sydney - due to Sydney’s; complex planning rules, less impressive public transport infrastructure, & significant underinvestment by consecutive NSW state governments in infrastructure programs.
People are being attracted to Melbourne both from overseas & interstate based on its status as the “world’s most liveable city”
Stage in the property cycle
Melbourne > Sydney
Housing prices in Sydney are significantly higher than in Melbourne as at Q4 2017 Sydney median house price (Domain Group) = $1.179m vs $903k in Melbourne i.e. a Melbourne house is circa three quarters of the cost of theSydney equivalent. Add to this faster population growth in Melbourne & you have a multiplier effect where Melbourne offers significantly better pricing growth opportunity.
