Spotlight on Preston
Where is Preston?
Preston is a suburb of Melbourne, just 9km north of Melbourne's CBD. Preston is right in the northern corridor which is seeing much growth economically and in popularity.
Such suburbs in the corridor that have seen successful development include Northcote and Thornbury.WHY IS PRESTON THE NEXT INVESTMENT HOTSPOT?
Preston is on the brink of explosive growth - and now is the time to get in on this opportunity.
Trendy and attractive to tenants, the suburb features popular markets, shopping, cafes, and great access to public transport. Cityhobo.com describes Preston as "a suburb in transition attracting professionals with an alternative bent."
It has been rated an average of 8.3/10 for livability by users of Homely. This is a place where more and more want to live.
As it is an up-and-coming suburb and still quite under the radar, it is still ahead of the spike or peak of the property cycle. The rental yield has increased by 35% in 10 years^ and only looks to improve. Not only is this a great incentive for investors, its affordability factor makes it ideal for property investment.
The Rocket Property Group are currently looking to secure more apartments for investors in the suburb. We currently have access to apartments for sale that are starting lower than the average apartment price in Preston. The lush designer apartments that Rocket Property Group investors can look at, start from $334,000. If you wish to know more about Preston and these apartments, please email us and we'll send out at information pack for you.
^Figures taken from SQM Report 2016