We all know that Real Estate is a long term investment - so what Melbourne suburbs have outperformed the rest over the last 20 years? Probably not the ones that came to mind first.
If you could go back to 1995 and spend a million dollars on property, where would you buy? Toorak, Brighton, Albert Park... These are probably some of the blue chip suburbs which sprung to most of your minds.
Toorak as an example was the most expensive suburb 20 years ago, with a median price of $572,000 and in 2015, it was once again topped the most expensive list with a median price of $3,850,000. You'd be pretty happy with that growth if you could go back in time. But Toorak doesn't make this list, either does Brighton or Albert Park for that matter.
Domain.com.au recently ran a great piece comparing property prices in 1995 to 2015 and the results are very surprising. Development rezoning and infrastructure have been the key to success of the 20 properties below which have had the most significant returns.
Best performing Melbourne suburbs between 1995 - 2015.