Southwest Melbourne expected to transform into real estate hotspot in future

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As per the latest reports, southwest Melbourne is expected to turn into a major real estate hotspot. Homes in this area are selling faster as compared to the same period analysed last year. This has led to major competition amongst homebuyers for snapping up prime properties. As per reports, Williams Landing is seeing properties selling quicker by at least 41 days as compared to 2017. A home in the area is listed on the market for around 64 days approximately.

This trend is being observed in several other areas located in south-western Melbourne which include Point Cook, Seabrook and Altona. These are locations which are expected to do well in the future, particularly in terms of their overall realty growth and other prospects. The south-western part of Melbourne is more popular with homebuyers and families who are drawn towards advantages such as easy proximity to public transportation facilities and the Central Business District (CBD) along with the ample open and green spaces, community facilities and shopping centres.

Point Cook and Williams Landing are highly attractive options for newer homebuyers, particularly since prices in these two localities are lower than the $750, 000 threshold, in terms of incentives for first-time homebuyers. Selling days for properties have increased slightly in Victoria to 36 days as compared to 32 days last year. Private properties are snapped up faster in the Yarra Valley and in areas like Millgrove, Woori Yallock, Upwey, Launching Place, Yarra Junction and Warburton, they are snapped up in a few days itself. Other areas which are performing well include Narre Warren South, Skye, Carnbourne East, Doreen and Cranbourne West to name a few.