Chapter 08 – 640 Bourke Street

Royal Arcade

Inner city Melbourne is set for growth as market confidence increases.

Residential apartments in Melbourne are in short supply with low vacancy rates and increasing demand as the population of the city continues to grow. With prices below those of comparable Sydney properties, 640 Bourke Street is a strategic investment option.

Australia's Resilient Economy

Australia stands out globally for its resilient economy, fuelled by a growing multicultural population and ongoing economic and social prosperity.

New Residents Driving CBD Demand

The City Of Melbourne is expected to welcome 145,000 new residents by 2040, driving strong demand for apartment developments within the central city.

Melbourne Set to Lead by 2032

Melbourne is forecast to be Australia's largest city by 2032. Over the last decade, Melbourne has become the fastest-growing capital city in Australia adding 835,000 people in over 10 years to 2023.

CBD Housing Demand Outpaces Supply

Melbourne CBD is proving to be a prime investment hub, where housing exceeds the apartment supply. Opportunities are becoming increasingly scarce as the CBD grid reaches capacity. There is a 60% shortfall in dwellings in the pipeline over the next four years.

Rate Cuts Expected to Boost Prices

Anticipated easing of interest rates, sets the stage for potential capital growth. As the RBA cuts the cash rate, we can anticipate an increase in demand due to cheaper financing costs, which is likely to drive price growth.

Rising Construction Costs Boost Existing Property Value

Victoria has seen a 25.5% increase to construction costs from 2019-2020 to 2023-2024, this rise in construction costs further underscores the value of existing properties in the CBD.

Opportunities are becoming increasingly scarce as the CBD grid reaches capacity.

Urbis – Melbourne CBD Market Outlook Jan 2025

Click to download the full Urbis report (PDF)

Southern Cross Station

Invest in a prime location

Offering an exceptional level of amenity and enjoying a premium location, 640 Bourke Street is expected to have a high level of owner occupiers, helping to protect the quality of your investment and increasing the potential for capital gains.