Where to get the most bang for your buck in Melbourne’s west

Written by realestateview.com.au in Buying on January 29, 2020

Buyers have for a long time known that Melbourne’s west offers that magic combination of affordability, lifestyle, land and home size, and market potential. Of course, this has seen a gradual creep west for price increases, with the waterside suburb of Williamstown now seeing a median sale price of $1.36 million for houses despite a relatively average median sale price of $535,000 for units in the same suburb. What that points to is a clear demand for the inherent value of land, of which there can still be plenty to find in Melbourne’s booming western region. 

If you are looking for an affordable entry point into the property market but don’t want to sacrifice on proximity to the city nor potential for capital gains growth, here are five suburbs in Melbourne’s west to keep an eye out on

Hoppers Crossing

Only 35 minutes by car to Melbourne’s CBD, Hoppers Crossing is a prime example of this mix of affordability, land size, and potential. The median sale price of houses currently sits at $530,000 for houses and a highly affordable $384,000 for units.

With a number of schools on offer, including Thomas Carr College, Al-Taqwa College and Hoppers Crossing Secondary College, it is unsurprising that well over 50% of households in Hoppers Crossing are home purchasers while the largest percentage of households are made up of couples with children.

 

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A great example of what Hoppers Crossing offers, this 4 bedroom 2 bathroom family home sits on 880 sqm of land just a short walk from Hoppers Crossing train station and amenities.

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A great option for young families, with Yerrambooee Kindergarten just around the corner, this 4 bedroom home sits on 940sqm of land and is boasts elegant external and internal finishes.

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Point Cook

With a median sale price of $651,200 for houses and $520,025 for units, Point Cook is another location equally close to Melbourne (35 minutes by car) but with closer access to the bay. A great spot for young families, with plenty of primary schools to choose from (St Mary of the Cross, Altona Green, Lumen Christi, Queen of Peace, Seabrook), Point Cook households are overwhelmingly made up of families, with just over 30 per cent of households being purchasers.

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Situated in the ‘Saltwater Coast’ Estate, this 4 bedroom family home is ready to move into. A modern, light-filled property with manicured gardens, it is a perfect first home for a growing family.

100 Fongeo Drive, Point Cook VIC 3030 $660,000-$680,000

This 4 bedroom 2 bathroom home sits within walking distance to three secondary/combined colleges and two primary schools, with two separate living areas and a dedicated BBQ area outside to make this the ideal home for families.

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Altona North

Houses in Altona North currently have a median sale price of $780,000 and units a considerably high median of $710,000, situating Altona North right on the edge of affordability for homes in Melbourne’s west but an obvious indicator of the suburb’s market potential for strong future capital growth. For the shrewd buyer, there are still a number of affordable homes in Altona North, which offers homeowners easy access to the city (20 minutes by car), plenty of parkland, easy access to the bay, and a number of schools.

With Emmanuel College, Annunciation School, Altona North Primary School, St Leo the Great School, and Bayside P-12 College all within a short walk of this two-bedroom modern home, this is a great option for small young families or couples looking for an affordable entry point into a strong performing area of Melbourne’s west.

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A good example of how attached properties achieve high prices in Altona North, this luxurious 3 bedroom home has incredible views of Melbourne, secure underground parking and boasts copious natural light throughout.

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Tarneit 

40 minutes west of Melbourne, Tarneit enjoys close proximity to Werribee and as such enjoys similar market potential in a booming section of the city’s western region. The median sale price for houses remains at an affordable $553,500 and $400,000 for units and enjoys a smorgasbord of schooling options (Islamic College of Melbourne, Good News Lutheran College, The Grange P-12 College, St John the Apostle Catholic Primary School, Baden Powell College)

 

5 Rustic Way, Tarneit VIC 3029 $650,000-$690,000

A modern 4 bedroom family home, this property in Tarneit is an affordable option for entering the market and sitting on 583 sqm of land with an open plan living area opening up to a spacious rear yard gives lends this home well to those looking to build longterm growth in capital.

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2 Baratta Road, Tarneit VIC 3029 $700,000-$750,000

This 4 bedroom 2 bathroom home gives families significantly spacious living areas, plenty of natural light and easy acccess to schools and amenities, such as Tarneit Railway Station and Tarneit Central Shopping Centre.

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Werribee

Werribee is probably one of the most well-known suburbs in Melbourne’s west, mostly for its performance on the market, affordability, and as a centre for significant investment in infrastructure development, with expectations that it will serve as a competitive satellite to the CBD, much like Box Hill in Melbourne’s east. The median sale price is a highly affordable $486,094 for houses and $380,000 for houses, with a strong mix of families and older couples making it a safe and welcoming area for first home buyers. 

8 Manta Court, Werribee VIC 3030 $650,00-$700,000

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Sold by online auction, this 3 bedroom home remains within an affordable entry point but shows how, despite Werribee having a median sale price of $486,094 for houses, properties in the right area (and offering buyers a modern home with all the mod-cons) continue to see higher prices.

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There are plenty of properties in Melbourne’s west that remain highly affordable and promise potential for savvy renovators. This 3 bedroom home is sitting on 613 sqm of land and is waiting for someone to undertake some quick upgrades to immediately increase its value on the market or undertake larger renovations and possible extensions to build longterm growth. This is a great option for young families or couples looking to invest in Werribee and create a home that suits their style and needs.

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