There is good news for Melbourne property investors following the announcement this week that Melbourne has once again been deemed the World’s Most Liveable City in the Economist Intelligence Unit’s (EIU) latest Global Liveability Report. This is the second consecutive time the city has taken out the title.
The report assessed 140 cities across five different categories including stability; healthcare; culture and environment; education; and infrastructure and each city was awarded an overall rating between 1 and 100 where 1 is intolerable and 100 is ideal. Melbourne scored 97.5% and lost only minor points for climate, culture and petty crime.
Melbourne was ranked in first place ahead of Vienna (Austria) in second and Vancouver (Canada) in third place. Adelaide pushed ahead of Sydney this year in 5th place moving Sydney back to 7th whilst Perth also performed strongly in 9th position. At the other end of the scale, Dhaka in Bangladesh was identified as the least liveable city of the 140 surveyed.
The strong performance of Australia’s major capital cities is favourable for investors, particularly in Melbourne, as it attracts people from interstate and overseas seeking accommodation plus the opportunity to enjoy the lifestyle benefits on offer. This in turn increases demand for rental accommodation, decreasing any financial risk for property owners and strengthening the long term potential for an investment property to earn you consistent returns.
DISCLAIMER:This information is of a general nature only and does not constitute professional advice. We strongly recommend that you seek your own professional advice in relation to your particular circumstances.