The state capital of Victoria, Australia boasted the title of “World’s Most Livable City” for the fifth year in 2015. Melbourne is considered one of the most desired cities to live in given its abundance of amenities without the high crime rates and overburdened infrastructure seen in other global cities.

Despite its low inhabitant density, Melbourne is the fastest growing Australian capital city with a population of 4.4 million [1]. For the past 40 years the population of Melbourne rose 62% compared to Sydney at 54% [2]. The strong population growth within the main suburbs of Melbourne and house prices outpacing new supply will place upward pressure on rents [3]. Capital appreciation for Melbourne apartments equaled 5% p.a over the past 5 years ending March 2014.