Great news for those shopping in the Melbourne housing market: select home prices have remained affordable despite an overall price growth across the city. Clustered within 20 KM of the CBD, affordable home-buying options are populated in the north and west. Nearly 30 suburbs located in those areas have a median home price below the citywide median of $817,000. This includes communities like Albion ($655,000), Sunshine North ($670,000) and Heidelberg West ($726,500).
Within the city’s inner ring, Maidstone ($815,000) is the only suburb with a median house price below the citywide figure. As most of these comfortably priced suburbs afford residents safety, ideal locales and good property, a renaissance of realty sorts will continue to flourish over the next few years in the north and west. These gentrified Melbourne suburbs will see an uptick in buyer interest as more and more home-buyers look for hotspots for growth. Read more over on RealEstate.com.au.
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