The Melbourne median house price has recovered to $860,000. The following suburbs in my view are undervalued, given the proximity to the Melbourne CBD and surrounding infrastructure. Of course we don’t live in a suburb and not all streets and individual property require careful selection.

Ascot Vale
A great village off Union road with tram, trendy cafes and restaurants, a rail way station and close to the Melbourne CBD. With it still possible to buy a 2-3 bedroom house under $1m this suburbs still has good value

Has a median house price of $1.1m, given its location neighbouring Richmond and South Yarra together with increased gentrification is why its on my watch list

Has a median house price of $1.27m. It remains possible to buy a 3 bedroom house for under $1m, close to the beach, Southland shopping centre, railway station and hipster Charman road cafes. This is one postcode to watch

Still possible to buy 2 bedroom houses here for under $1m. Given the rate of change and inner city location this could prove to be a shrewd investment

Family homes on land of 700m2 close to good school zones, the beach , world class golf courses and shopping in the Concourse and Seaview is rare in Bayside Melbourne for under $1.6m but I have seen some gems that need a little love go for under $1.5m, With the emergence of the Beaumaris modern, this family suburb is poised to move higher in 2020

In Melbourne’s inner west. A growth corridor undergoing much change. It has a median house price of $846k which is below the Melbourne Median

St Kilda
Becoming the heart of Melbourne with the Beach, vibrant Acland street, Luna Park and major developments about to transform this sleepy performer. Statistically, high crime areas prove to show strong capital growth over time and St Kilda will be no exception with the new infrastructure and investment

In Melbourne’s inner north with Sydney road running down its spine, good public transport with tram and train and wonderful array of cafes and restaurants, Its still possible to buy a 2- 3 bedroom wb house for under $1m

West Footscray
Another inner western Melbourne suburb undergoing renewal, Good period housing stock and infrastructure only 6 km from the CBD with docklands on its doorstop. Still possible to buy a 3 bedroom home for under $900k

It’s still possible to buy 2- 3 bedroom houses here for under $800k and again good freeway access , infrastructure and below the Melbourne median house price

To learn about the best locations to invest in, talk to Greville Pabst Property Advisory.  Contact Us today for a free consultation.