Why Invest in Victoria?
Melbourne’s cohesive, stable society, healthcare, education and world class infrastructure make Melbourne the most liveable city in the world for the 5th time running. Melbourne is constantly ranked as one of the world’s top three liveable city by the The Economist Intelligence Unit’s 2015 Global Liveability Index, which assesses living conditions in 140 cities globally since it began in 2006.
Victoria continues to record the strongest annual population growth of any region in Australia. The CommSet States of the States Report for October 2015 demonstrates that Victoria is the strongest of all our states in population growth, with a 1.68 per cent increase in the last 12 months.
Melbourne is growing rapidly, and more and more Australians are flocking to Melbourne more than any other major Australian city. Forecasts are now showing that Melbourne is on track to overtake Sydney as Australia’s biggest city by 2056.
The Victorian Government plans to spend $22 billion on infrastructure over the next 4 years. This will result in creating another 100,000 new jobs. This spend puts the Victorian Government on track to increase the population of Melbourne from 4 Million people to 5 million people within the next 15 years.
Victoria consists of 3% of Australia’s land mass but contributes to 22% of our national GDP.
Victoria’s economic strength is diverse across many industries and has achieved the status of being the 12th largest economy in the world.
Victoria is one of two Australian state to possess a Triple A credit rating—the gold standard for world economies, and has maintained the status for over 10 years.
With a projected population growth of up to 7.7 million by 2051, Victoria will require the construction of up to 1.6 million new home and resulting in the creation of 1.7 million new jobs. This demand for growth sees Victoria as the second strongest state behind NSW’s in the construction of new homes, as per CommSec’s State of the States Report for October 2015.
With all this growth Melbourne is a prime location of any investor to consider as an addition to their investment portfolio.