With property in Victoria more affordable than several other major capitals and rental yields surging, pundits say the state is set to enter a growth phase underpinned by a projected 1.2 million new residents over the next decade – the largest population increase of any state.
The median dwelling (houses and units) value in Melbourne has fallen to fifth among capital cities. At $827,000, it is now lower than that of Brisbane ($1.04 million), Perth ($941,000) and Adelaide ($902,000).
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