Ever drive through Melbourne’s pricey inner-ring and bayside suburbs, and dream of one day owning your own little slice of high-end real estate?
That dream may have some basis in reality. We’ve found nine fabulous homes in some of the hottest locales in Melbourne, selling for a fraction of the median sale price in their suburbs, to prove that the fantasy could be closer than you think!
Median house price $4.452 million; median unit price $735,000
With a median house price in excess of $4.4 million, homes in Toorak tend to be out of reach for all but the highest-rolling Victorians. But this two-bedroom property on Malvern Road is a notable exception, listed at just $1.295 million. It’s been tastefully renovated and retains many of the original period features, and is also close to Hawksburn Village shops and you can be in the CBD in minutes on the nearby train or tram. Translation: demand is likely to be very high for this affordable slice of one of Melbourne’s priciest neighbourhoods.
Median house price $2.7 million, median unit price $590,000
Advertised alongside a price range of $700,000 to $770,000, this Meredith Street home is a whopping $2 million cheaper than the median house price for classy Malvern. With just the one bedroom, its best suited to a couple or a young professional. Malvern and Armadale shopping strips are close by, as is the Monash Freeway, and there’s even a quaint alfresco area perfect for entertaining.
Median house price $2.687 million, median unit price $908,800
If you can wait until construction is completed on this Dudley Parade property, you could get into the market in pricey Canterbury for under $2 million. Once finished, it will have five bedrooms and three bathrooms, and the proximity to some of Melbourne’s most prestigious schools makes it ideal for a growing family. Just 10 kilometres from the CBD, yet surrounded by gorgeous parks and leafy streets, it really is the best of both worlds!
> STILL OUT OF YOUR PRICE RANGE? CHECK OUT MORE BARGAIN HOMES HERE.
Median house price $2.327 million, median unit price $850,000
Listed with a price guide of $1.5 to $1.65 million, this Yonga Road home has loads of potential. It’s on the market for the first time in almost 100 years, and at this price it could be your ticket to the lifestyle you’re dreaming of in Balwyn. It’s in the zone for Balwyn High, one of Melbourne’s most sought-after public schools, so parents take note! Ripe for renovation or rebuild, competition should be fierce come auction day.
Median house price $2.25 million, median unit price $1.1 million
Fancy being close to the beach, in a ritzy locale, but don’t have a $2 million-plus budget? This three bedroom home on Edmanson Avenue, for sale for $1.31 million, blends Edwardian elegance with sleek, modern lines perfectly – and is priced at almost half of the the Brighton median price. Close to cafes, schools and Gardenvale station, it’s a must-view for families or young couples who desire bayside living at an affordable price.
Median house price $2.123 million; median unit price $770,000
At $1.1 to $1.15 million, this Highfield Road home is a bargain for Camberwell! Fully renovated, with three bedrooms and a spacious, modern floorplan, it would be perfect for a first homebuyer looking to hop on the property ladder in this old-money Melbourne suburb.
Median house price $2.057 million, median unit price $682,000
Kew might not have been on your radar, given the hefty median house price, but this charming fixer-upper on Brougham Street could be the answer to your prayers! The agent has quoted a price range of $1.32 to $1.45 million, well below the price you’d expect to pay for a home in this area, and the potential to renovate, extend or rebuild is huge. Now’s the time to bust out all the tips you’ve learned from The Block and turn your reno dreams into reality!
Median house price $2.025 million; median unit price $890,000
At just $1.66 million, this Service Street home is almost half a million dollars cheaper than the Hampton median, and is overflowing with charm and character. Spectacular high ceilings, sleek floorboards and an irresistible fireplace make it a must-inspect, and the location is phenomenal, with the beach, station and cafés just minutes away.
Median house price $2 million, median unit price $705,000
On a large block with stacks of potential, this Lower Heidelberg Road property will set you back a cool $1.45 to $1.495 million. But that’s a huge discount on the suburb’s median, which is a solid $500k higher at $2m. Boasting loads of stunning original features, including decorative brickwork and leadlight windows, as well as a massive backyard, you won’t find anything comparable in this price range in Ivanhoe East.