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Market Wrap, Residential

Victorian beach bums earn St Kilda West the top spot

Lifestyle is a non-negotiable when it comes to looking for a home, and Melbourne’s St Kilda West meets all criteria, statistically speaking.

The beachfront suburb’s location near the seaside and other amenities earnt it the title of Australia’s top lifestyle suburb, recent data from the Australian Statistical Geography Standard shows. Albert Park and Port Melbourne also came in the top ten.

Key lifestyle factors measured were access to education, parks, beaches and distance from the CBD – attributes that appeal to buyers on all ends of the market.

With these top suburbs offering all of the above, it’s no wonder they’re in hot demand with medians exceeding $1.5 million, well above the city’s average of $675,000.

However, those on a tighter budget don’t have to give up lifestyle in order to nab their dream home. Across the bay, Spotswood borders the Yarra River, and has nearby education facilities, including the popular Scienceworks museum – perfect for growing families.

For those after something smaller, you can purchase a unit in Williamstown a stones throw from the beach for around $550,000.

In Melbourne, we’re spoilt for choice when it comes to lifestyle. If you’re on the house hunt this spring, make sure you’ve made a list of your lifestyle non-negotiables – chances are you’ll find somewhere that ticks all the boxes.

Market Wrap, Residential