Fitzroy North is located 4km North of the Melbourne CBD and on the banks of the Yarra River. It has a distinct character, noted for its prevalence of wide streets, intact Victorian and Edwardian era terraced housing and for the Edinburgh Gardens, a large inner-city park formerly homes to the Fitzroy Football Club.
Top 5 Reasons Why This Is a Great Investment
Fitzroy North is located 4km north of the Melbourne CBD and on the banks of the Yarra River
Fantastic connectivity to Melbourne and outer rings
In the heart of Fitzroy North with amenity on the doorstep
With strong demand for rentals in the Inner North, vacancy rates in the area are sitting at just 0.9% compared with 2.0% for Melbourne
Based on outstanding proximity to Melbourne and outstanding lifestyle opportunities the City of Yarra is the fastest growing municipality in Melbourne with the population expected to grow 57.13% over the next 22 years
Our key measures explained by Dr Andrew Wilson -
Chief Economist at Wealthi.
Annual growth is a measure of the price growth in median prices for the asset type we are recommending. For example, if we're recommending a house investment, we will use median house price growth adjusted for any anomolies in the data.
Yield represents the total median rental income divided by the median asset price over the period. Our preference is to work with data across a large sample, to reduce any issues with one-off transactions which could skew the data.
Population growth is a great long term source for measuring long term demand. This isn't an instant measure, there are often lags with government population growth measurements. So we're really looking at the long term here and trying to find areas where population growth is greater then recent price growth.
We look for apartments in areas where the price gap with houses is large. This is a long term strategy where we believe, apartments will rise in value and close the gap relative to houses. Areas where the house price to apartment ratio exceeds 150% are generally attractive for apartment investors.