First home buyers, look out for bargains in these top 10 suburbs. According to the REIV’s latest median release, these are Melbourne’s most affordable suburbs for houses.
REIV CEO Geoff White said record low interest rates and a strong market was driving price growth in areas further from the city.
“These areas continue to offer value for money with all of the top 10 most affordable suburbs experiencing solid capital growth in the past year,” he said.
“While the suburb’s median house price may be out of your budget, finding the right home is important,” he said. “Houses with renovating potential or slightly smaller properties in good suburbs offer great buying in the current market.”
- Melton West – $331,000
- Werribee $355,000
- Cranbourne – $380,000
- Wyndham Vale – $385,000
- Hampton Park – $385,750
- Hoppers Crossing – $390,000
- Pakenham – $393,000
- Carrum Downs – $405,000
- Sunbury – $412,500
- Roxburgh Park – $425,000
View last quarter’s results here.