The Melbourne suburbs posing the best opportunity for buyers
From inner-city South Yarra to the outer ring’s Mooroolbark and Mount Eliza – there’s no denying Melbourne’s booming market offers great bang for buck when it comes to investment, with all these suburbs offering annual value growth rate above 10%. But there’s one pocket that is no longer flying under the radar.
Melbourne’s western suburbs, specifically Sunshine West, Albion, St Albans, Kings Park and Keilor Downs – with an average median house price of $635,000 – are proving to be the next up-and-comers for those looking to invest in affordable, lifestyle pockets of the city. Not to mention, they’re within 20km of the CBD.
The influx of demand is resulting in exceptional growth. For instance, Kings Park (median house price of $520,000) is currently seeing 28% annual price growth, while Sunshine West’s median ($615,000) is rising 20% per year on average.
Our agents are seeing strong interest from families and first home buyers, for whom affordability is a must – but they’re also keen on the amenities and public transport options in the west.
Meanwhile, larger-than-your-average blocks of land with potential for small development poses promising opportunity for investors.
If you’re looking for a home, to live or invest, there’s no denying Melbourne’s west is an area to watch.