Property bargains in inner Melbourne http://www.heraldsun.com.au/news/more-news/property-bargains-in-inner-melbourne/story-fn7x8me2-1226357203561
SAVVY homebuyers and investors could be landing a property for a bargain right in the centre of the city.
Melbourne, North Melbourne and Carlton are on a list of inner city suburbs in Australia where units can still be bought for less than $300,000, according to a new report.
The inaugural Inner City Steals report by Smart Property Investment has found 20 suburbs within 5km of Australia's capital city CBDs where buyers can still find an apartment for under $300,000.
The findings defy the perception that affordable homes are being barged out of inner city markets.
The survey shows that 25 per cent of units in those suburbs sell for $300,000 or less.
But RP Data senior research analyst Dr Andrew Wilson said he was worried there was an oversupply of apartments in Melbourne.
"Melbourne is a fascinating market for units at the moment,'' Dr Wilson said.
"There have been something like 25,000 new high rise apartments approved over the last 18 months and most of these are in the CBD.''
Experts said the potential surplus of apartments could impair capital growth and rental returns for investors.
