Reservoir, Frankston, Dandenong, Footscray and Lorne/Surf Coast have been named as the hot spots for Melbourne’s property market in 2008.
Speaking at the Melbourne Property Outlook seminar, Greville Pabst, chief executive officer of WBP Property Group, predicted these undervalued areas will offer solid returns in 2008.
“Apart from Lorne, all these areas are generally unfashionable selections and they remain affordable with the promise of solid price increases,” Mr Pabst said.
Mildura, Mortlake and Wonthaggi were also identified as regional hot spots by Mr Pabst due to significant infrastructure projects on the way.
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