VIC Registered Law Firm, LEAD Conveyancing

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Lead Legal Services Pty Ltd (ABN 86 640 514 558)
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South Melbourne is one of the best-developed areas in Victoria's capital city. It boasts some of Australia's best infrastructure and social amenities, and the development has also spilled over to the real estate market. As a result, this part of Melbourne is a hotbed for investors looking to buy high-valued properties. With a total land area of 2.2 square kilometers and 11 parks, the city is one of the best places to invest. Of all the properties in the city, about 44.8% of them are owner-occupied, while more than 45% of them are occupied by tenants.

Many of the households in South Melbourne are childless couples, and surprisingly, the city has a relatively young population. The predominant age group in South Melbourne at the time of writing this review ranges between 30-39 years old. Also, many of the working-class adults in the city work professional jobs. As for the mortgage market, it is doing quite well, and the average mortgage repayment in the area is between $1800-$2399 a month.

When you look at the rate of property ownership transfer in the area, as well as the growing population, you will understand why the local market has done so well in recent years. Although the property market witnessed a median price decrease of 9.93% last year as a result of the pandemic, it still fared much better than many other cities, not only in Victoria but in Australia in general. 

Before the pandemic, the area enjoyed capital gains which saw investors maximize their returns. As the economy returns to normalcy, the demand for properties in the south of Melbourne is expected to rise. This is evident when you consider the fact that the average property listed for sale spends not more than 67.3 days on the market before it is sold off.

Other important data regarding South Melbourne's property market are as follows

• The average rental income is $620
• The median home price is $1.6 million
• S. Melbourne is the 548th best yielding area in Victoria
• The average annual returns on investment is 1.92%

If you plan to buy or sell a property in South Melbourne, you cannot afford to handle the entire documentation process on your own unless you are a solicitor with a deep knowledge of the legal requirements of Melbourne's property markets.

Buyers and sellers often turn to professional Conveyancing service providers in Melbourne because they know all there is to know regarding the smooth transfer of title deeds and other relevant processes involved in the buying and selling of properties. Conveyancers are legal experts who handle all aspects of the contract of sale whole ensuring that their principal's interest is protected at all times. 

Due to the complex nature of property registrations and documentation, mistakes are quite common with far-reaching consequences. So, to ensure that you meet all your obligations, it is wise to hire experts to help you out.

A conveyance service provider can 

• Draw up documents
• Offer level advice
• Prepare the final details of a settlement
• Ensure the smooth transfer of the property from the former owner to the new owner

Even when dealing with mortgage institutions and the authorities, conveyancers can help you with the entire process and ensure you don't fall short in meeting certain obligations expected of you.

South Melbourne is one of the numerous suburbs located in Melbourne, Victoria. This city is just 3 km away from the capital city's central business district with a local government in Port Phillip. Currently, the city has more than 10,000 residents and counting. Before now, it was known as Emerald Hill and was one of the first-ever suburbs in Victoria's capital to be granted full municipal status. This development made it one of the oldest municipalities in the capital.

Also called Canvas Town by historians in the 1850s, it was a legendary destination for gold diggers during the gold rush era when thousands poured in from other parts of Melbourne in search of gold. However, before the arrival of the Europeans, South Melbourne was a traditional meeting point for aboriginal tribes who came from all over Melbourne to attend meetings and festivals. The first group of Europeans arrived during the 1840s  called the area Emerald Hills.

Then came the gold rush era of 1851 when a tent city was built called Canvas Town. As time went on, this area became a slum with thousands of fortune seekers making the area their permanent residence as they dug for gold. After the gold rush era, cottages began to replace the tents formerly used by the previous residents. By the time Melbourne was declared an independent city, a second railway line was built, which linked the town to St.Kilda. From 1872, the area's development gathered steam, so much so that areas like St. Vincent became a choice location for wealthy citizens.

Nearby suburbs include

• Albert Park
• Docklands
• Southbank

South Melbourne is a lovely place to live or visit for recreational purposes. With so many local attractions dotting the length and breadth of the area, you will be spoilt for choice. Here are some memorable spots you should visit in South Melbourne.

Town Hall

The Town Hall is a historic building marking back to the Victorian age. It is situated in a quiet area, and this is the headquarters of Australia's National Academy of Music. The surrounding landscape is filled with colorful roses and carpet greenery. Merely visiting the hall to enjoy the beauty of its architecture will be worth your time.

See Yup Temple

Built in 1856, See Yup Temple is one of South Melbourne's historical landmarks. The temple is a combination of European and Chinese architecture. Although many who come here do so to worship and pray, the Temple is also a side attraction for lovers of culture.

South Melbourne Beach

If you are a beach lover, you wilt enjoy taking long walks barefooted at South Melbourne Beach. If you enjoy water sports, you will also enjoy your time out here. Besides the natural delights the beach offers, there are also shopping centers, cafes, and malls a walking distance away from where you can dine and shop. 

Other side attractions in South Melbourne include

• Emerald Hill Library
• Emerald Hill Heritage Center
• Old Paper Shop