Terry Ryder from Hotspotting on the extraordinary price growth in the outer ring suburbs of Melbourne in the past 12 months as shown in the latest Top 5 Regional Victoria Hotspots report

In this episode Terry covers:

• Local government areas in outer ring areas of Melbourne that recorded double-digit growth in median house prices, some of which have grown more than 20% and 30%
• The factors contributing to the big price increase including affordability, a strong local economy  and population growth
• The strength of the growth in the outer-ring areas of Melbourne provides further evidence that proximity to the CBD is not an essential factor for buyers seeking capital growth.
• That proximity to employment is still a core factor but the reality is that most people work in suburban jobs nodes and not in the CBD
• Case studies ofthe growth expereince in Wyndham, Hume, Whittlesea and Casey local government areas
• That downmarket, outer-ring areas do record strong price growth and that affordability is a prime driver of activity and prices, especially true in places where the infrastructure is good.