The Most Affordable Melbourne Suburbs to Buy a Property in Today
In recent years, the Melbourne property market has seen a rapid incline in value, making it difficult for first-time buyers to break into. Known for its cutting-edge culture and ever-evolving infrastructure, the city, which has previously been hailed as the world’s most liveable city, is now proving difficult for locals to secure their very own piece of real estate.
To assist our fellow Melbournites to break into the competitive real estate game, property leader Domain has confirmed the most affordable locations for house-hunters in the Victorian capital to consider.
“After a period of subdued buyer activity, Melbourne’s budget priced suburbs are attracting significantly higher levels of demand this year so far,” explains Dr Andrew Wilson, Domain’s chief economist. “Established suburbs to the north west and south east of the city are recording significant prices growth as buyers increasingly recognise the value of advantages combined with high levels of residential infrastructure and amenities and within reasonable proximity and access to the CBD and other significant employment resources.” Adding, “strong population growth into Melbourne is another significant force elevating demand for budget priced properties in these areas, with demand likely to remain ahead of supply over the foreseeable future.” Read on to find out Melbourne’s most affordable suburbs in which to buy a property today.
Meadow Heights, $275,000
Hoppers Crossing, $287,500
St Albans, $306,000
Frankston North, $350,000
Kings Park, $395,000
Kings Park, $395,500
Hoppers Crossing, $402,000
Hampton Park, $$403,750