Melbourne’s undervalued suburbs
It’s easy to get stuck competing for houses in the most in-demand areas of Melbourne. If you’ve been on the hunt for a home but are constantly disappointed at auction, it’s definitely time to broaden your horizons. Some of Melbourne’s lesser-known suburbs provide just as much value at a significantly more affordable cost.
Find a great investment or place to call home, while still having access to the lifestyle you’re looking for. Here are some of Melbourne’s hidden property gems for you to explore:
Albion
Brimming with potential, and only 17 kilometers from the city, Albion is a quieter Melbourne suburb that provides easy access to Melbourne’s CBD while retaining some breathing space.
With two primary schools and access to plenty of sporting grounds, Albion is ideal for young families.
It’s also serviced by plenty of public transport options, making travelling to and from your new abode easy.
The median selling price for a home here is $608,750. This mainly original home on 697 sqm sold for $685,000.
This close to the fastest growing city in Australia and it represents amazing value.
Reservoir
14 kilometers from the Melbourne CBD, Reservoir is an established northern suburb with a community feel and is well serviced by public transport.
Whether you’re looking to settle on your own or wish to start a family, you’ll enjoy its inner city feel without having to break the bank.
The median house price of $730,000 means that Reservoir is your affordable solution to urban living.
Take this spacious, three-bedroom home, which sold for $760,000 last month as a perfect example.
Fawkner
Nestled conveniently between the Western Ring Road and the Hume Highway, this part-industrial suburb is growing in popularity.
Fawkner boasts sporting clubs, parks, walking tracks and beautiful reserves all while being located just 15 kilometers from the Melbourne CBD.
You’ll look to spend around $614,000 on a home here based on the area’s median pricing.
This three-bedroom property recently sold for $740,000.
You’ll have an even better chance of securing a great property in Fawkner by working with an experienced and dedicated buyer’s advocate.
Frankston
Like the idea of coming home to the fresh breeze of Frankston’s gorgeous beaches?
Plenty of Melbournians from closer into the city sure do.
While it’s further away from the CBD (around 45 km), Frankston lies within close proximity to the Peninsula- and East-Link freeway.
That means you can enjoy some relaxed coastal living away from the city without feeling isolated.
This bayside suburb is in high demand with local Monash University and Chisolm Tafe campuses and two large hospitals at your doorstep.
The median house price for Frankston sits at an affordable $500,000.
This renovated, two-bedroom villa unit SOLD for $501,500 at auction.
Need some advice?
If you’re looking to buy an investment or a place to call home, but the competitive property market is pushing house prices past your budget, consider looking at some of Melbourne’s lesser-known suburbs.
Their increasing value and affordable prices will provide you with a great opportunity that you should consider.
A Buyer’s Agent can be even more valuable in situations where you might not be familiar with a new area.
If you’re looking to branch beyond the familiar for better value, don’t hesitate to speak with one of our Property Buyer Agents on +61 8374 7652 or book a Zoom call here
https://calendly.com/propertychat/discussion-with-industry-insider
Industry Insider Property
Level 3, 489 Toorak Road, Toorak 3142
+61 8374 7652
+61 402 346 810
industryinsider.com.au
