Push to tempt young people to snap up a bargain in the CBD

The City of Melbourne is launching a campaign to encourage young people to make the CBD their home.

With lockdowns and the shutout of international students, property prices in the heart of the city have bucked the national trend and fallen.

The median CBD unit price has fallen 5.8 per cent since 2016, and rents are at their lowest levels in a decade.

CEO of the Urban Development Institute of Australia, Matthew Kandelaars, says living in the CBD “absolutely makes sense from a value point of view, and also a lifestyle and amenity point of view”.

“The only way is up,” he told Ross and Russel.

“It really does provide a great opportunity for younger buyers.”

Press PLAY below to hear more on the push to entice young people to make the CBD their home