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The reason Melbourne’s west is booming

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The property market in Melbourne’s west is booming. But why?

Nerida Conisbee, chief economist at realestate.com.au, explained more on Friday.

She said three things were needed to drive a rise in house prices.

  • Good schools.
  • Good retail.
  • Good public transport.

“A lot of it is to do with young people,” she said.

“They buy up older housing stock, they renovate that stock, they create demand for better cafes and restaurants and when they have kids they really improve the schooling, as well.”

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