Market wrap: The most affordable suburbs in Australia are in Victoria
When you consider just how liveable and in-demand Victoria is as a place to live, affordable housing might not be something you associate with the state compared to other regions.
However, a new report from CoreLogic this week shows that actually, Victoria is home to some of the most affordable suburbs for properties nation-wide.
These include Melton in the west and Dallas in the north, both which have made it into the top five in the country. And, apart from being affordable, they’re booming.
Both suburbs offer a breath of fresh air for people looking to move away from the city, but who want to retain that city lifestyle. Melton has links to Watergardens and Taylors Lakes, plus Woodgrove Shopping Centre for example, while Dallas has great railway connections with Upfield station nearby, and is less than a ten-minute drive to the north’s bustling and renowned Sydney Road.
Plus, the figures speak for themselves. The median value of houses in Melton is $397,883 vs. $455,560 in Dallas, meaning first-time buyers have a fantastic way into the market without compromising on their Melbourne way of life.
So, if you are a first-time buyer, look to affordable outer suburbs like Melton and Dallas that offer bustling culture and great connections to the city.