Why Melbourne’s Off-the-Plan Market Beats Regional and Interstate Alternatives

When it comes to property investment or securing your future home, Melbourne continues to outperform regional and interstate alternatives. Thanks to record-breaking infrastructure investment, consistently strong rental yields and fast-growing, well-connected suburbs, Melbourne’s off-the-plan market offers a level of long-term value that’s hard to beat - and Norus is leading the way with key projects in Melbourne’s most liveable suburbs.

A City on the Move: Unprecedented Infrastructure Investment

Melbourne is undergoing a once-in-a-generation infrastructure boom. The Suburban Rail Loop (SRL) - a $34.5 billion project - is set to transform suburban living, linking major hubs like Cheltenham, Monash, Burwood, Box Hill and Melbourne Airport via a 90km orbital rail line. Stage 1 construction is already underway, dramatically reducing commute times and unlocking future property hotspots.

In addition to transport, several major retail and lifestyle precincts are underway. Melbourne’s west will soon welcome the $70 million Grove Shopping Centre in Tarneit and $60 million Mambourin Marketplace, while established bayside suburbs like Sandringham and growth corridors like Burwood are benefiting from ongoing streetscape upgrades, community parklands and improved public transport.

Norus Projects: Positioned for Growth

Norus is strategically delivering projects in suburbs at the heart of this urban evolution:

• Sanctuary Sandringham - just a short stroll to the Sandringham Village and train station, this premium development offers bayside living with city accessibility.
  
  
• Beach Point Sandringham - a boutique address moments from the shoreline and within walking distance to shops, cafés and a short drive to Southland Shopping Centre.
  
  
• Burwood -  this sought-after suburb is surrounded by elite schools, parklands and the future Suburban Rail Loop East station, positioning it for excellent capital growth.
  
  
• Newly Released: Ivanhoe - perfectly placed in Melbourne’s leafy northeast, Ivanhoe offers proximity to established healthcare precincts, elite schools and train connections direct to the city, with strong median house prices providing an enviable buffer for future apartment value growth.
  
  

These locations aren’t chosen by chance - they’re carefully selected based on infrastructure pipeline, rental demand and lifestyle appeal.

Rental Yields and Growth Holding Strong

Melbourne’s rental market continues to outperform expectations:

• Metropolitan Melbourne’s median rent hit $580 per week as of Q4 2024.
  
  
• Vacancy rates remain below 2%, with inner and middle suburbs like Sandringham and Burwood experiencing high demand for quality, new apartments.
  
  
• Rental growth across Melbourne’s unit market has surged over 9% year-on-year as population growth, tight vacancy rates and lifestyle preferences drive demand.

Coupled with Norus’ focus on premium, well-located projects, these market fundamentals offer both security and strong returns for off-the-plan buyers.

Government Incentives Sweeten the Deal

One of the major advantages of buying off-the-plan in Melbourne is the generous range of government incentives available to both owner-occupiers and investors. Victoria continues to lead the nation with buyer-friendly policies that ease the financial burden of purchasing new property and improve long-term returns.

Stamp Duty Concessions
Victoria offers substantial stamp duty savings for eligible off-the-plan purchases. Buyers can claim a concession based on the property’s land and construction value at the time of contract signing, rather than the completed market value - often resulting in savings of tens of thousands of dollars. This is especially attractive in high-demand, high-value suburbs like Sandringham, Ivanhoe and Burwood, where completed property values are rising quickly thanks to infrastructure investment and lifestyle appeal.

First Home Owner Grants (FHOG)
First-time buyers purchasing new or off-the-plan homes in Victoria’s designated growth areas can access a $10,000 First Home Owner Grant for properties valued up to $750,000. This is a welcome boost for buyers looking to secure a property in future-ready suburbs such as Burwood, which falls within the eastern suburbs growth corridor and is surrounded by planned infrastructure and retail development.

Downsizer and Investor Incentives
For downsizers, Victoria offers further benefits through the stamp duty concession on a Principal Place of Residence (PPR) valued up to $1 million, provided the buyer moves in within 12 months of settlement. This makes premium off-the-plan apartments in suburbs like Sandringham and Ivanhoe particularly appealing for retirees and empty nesters seeking low-maintenance living with easy access to transport, shops and medical services.

Investors also benefit from stamp duty concessions on off-the-plan properties purchased before construction completion, reducing upfront costs and improving yield performance in Melbourne’s high-growth rental market. Combined with consistently low vacancy rates and strong rental demand in inner and middle-ring suburbs, this makes Melbourne a far stronger proposition compared to regional areas or other states.

Why This Matters
What truly sets Melbourne apart is the combination of these incentives with its superior infrastructure pipeline, economic resilience and rental performance. While regional and interstate markets might offer lower entry prices, they often lack the long-term security of future transport links, employment hubs and lifestyle infrastructure. Melbourne’s off-the-plan market not only delivers immediate financial advantages through government savings — it also positions buyers for capital growth and rental demand driven by population growth and major government investment.

In short, these incentives aren’t just token discounts - they’re meaningful financial advantages that enhance affordability, reduce risk and create stronger long-term returns for both owner-occupiers and investors in Melbourne’s thriving property market.

Why Melbourne Beats the Alternatives

While regional Victoria and other capitals like Brisbane and Adelaide have their appeal, they can’t match Melbourne’s:

• World-class infrastructure pipeline
  
  
• Economic resilience and job creation
  
  
• Superior rental returns in sought-after suburbs
  
  
• Long-term growth driven by a fast-growing population and government investment
  
  

Norus’ current projects in Sandringham, Burwood and Ivanhoe are a prime example — each located in suburbs benefiting from current and future upgrades, excellent lifestyle appeal and proven rental demand.

Melbourne’s off-the-plan market isn’t just about buying new - it’s about buying better. With Norus delivering projects in Melbourne’s most future-ready locations, there’s never been a smarter time to invest or secure your next home in this thriving, ever-evolving city.

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