Melbourne’s housing market has always been an exciting space to explore. As diverse as the city’s population, Melbourne offers a plethora of housing choices ranging from trendy apartments to luxurious villas. However, the current demand for houses far exceeds their supply. Hence, making an informed decision about purchasing a home in Melbourne is crucial.
If you’re new to Melbourne’s real estate market, you might find the process of buying a house intimidating. But fret not, with the right knowledge and preparation, you can secure your dream house with ease. Before starting your home hunt, make sure you have a clear idea of your budget, future plans, and your desired location in Melbourne. Aiming for a suburb with impressive house sales results can be a great starting point, and we’ve got you covered with the top suburbs.
The Top Suburbs with Impressive House Sales Results
1. Brighton
Located only 11km from Melbourne’s CBD, Brighton is a high-end suburb known for its beach, prestigious schools, and glamorous lifestyle. The median sale price for a house in Brighton is AUD 2.6 million as of June 2021, making it one of Melbourne’s most expensive suburbs.
2. Greenvale
Greenvale has emerged as Melbourne’s rising star, experiencing 20% growth in the median sale price for houses since 2019. With only a 20km distance from the city center, Greenvale offers a relaxed suburban lifestyle with excellent amenities, parks, and top-rated schools.
3. Glen Iris
Glen Iris is a popular choice for families due to its spacious houses, easy transport connectivity, and proximity to Melbourne’s CBD. While the median sale price is on the higher end at AUD 1.8 million, the suburb’s high capital growth rate of 7.5% makes it an attractive investment option.
4. Pascoe Vale
Pascoe Vale has emerged as Melbourne’s favorite suburb for first-time buyers, thanks to its affordable housing and easy access to the CBD. In June 2021, the median sale price for a house in Pascoe Vale was around AUD 1 million, making it a budget-friendly option for those looking to settle in Melbourne.
5. Point Cook
With a diverse community and excellent infrastructure, Point Cook has become one of Melbourne’s most sought-after suburbs for families. Homes in Point Cook are relatively affordable, with a median sale price of AUD 775,000 as of June 2021.
6. Essendon
Essendon is an affluent suburb that has witnessed a consistent increase in house sales since 2015. With easy transport connectivity and renowned schools, Essendon makes for an excellent investment option for those looking to settle in Melbourne.
7. Balwyn
Balwyn is known for its charming houses, beautiful gardens, and serene environment. The suburb’s median sale price for houses as of June 2021 was AUD 2.2 million, making it one of the more expensive suburbs in Melbourne. However, Balwyn’s high capital growth rate, excellent schools and nearby amenities make it a desirable location to purchase a house.
8. Elwood
Elwood is a beachside suburb with a vibrant community and peaceful lifestyle. The suburb’s median sale price is around AUD 2 million, making it an attractive option for those looking to settle near the beach.
9. Coburg
Coburg is located only 8km from the city center, making it a popular choice for first-time buyers and investors. With an affordable median sale price of around AUD 1.1 million, Coburg offers a relaxed suburban lifestyle with easy access to Melbourne’s urban life.
10. Camberwell
Camberwell is a family-friendly suburb known for its beautiful homes, excellent schools and amenities. While the suburb’s median sale price for houses is on the higher end at around AUD 2.3 million, its high capital growth rate and ease of accessibility makes it a desirable investment option.
FAQs
Q: What should I do before buying a house in Melbourne?
A: Before buying a house in Melbourne, it’s essential to have a clear idea of your budget and future plans. Make sure you research the suburb you want to settle in thoroughly and keep an eye on the median sale prices in the area. You might also want to consult a local real estate agent for guidance and ensure you have financial pre-approval before starting your house hunt. Refer to our Guide to Buying a House in Melbourne to get started.
Q: What are some affordable suburbs to buy a house in Melbourne?
A: Some affordable suburbs to buy a house in Melbourne are Pascoe Vale, Coburg, Point Cook, and Greenvale.
Q: What are Melbourne’s most expensive suburbs to buy a house?
A: Some of Melbourne’s most expensive suburbs to buy a house are Brighton, Balwyn, and Glen Iris.
| Suburb | Median Sale Price (June 2021) |
|---|---|
| Brighton | AUD 2.6 million |
| Balwyn | AUD 2.2 million |
| Glen Iris | AUD 1.8 million |
Keep in mind that it’s important to invest in a suburb that fits your budget and lifestyle, rather than chasing a high-end price tag. With the right research, patience, and guidance, you can find your dream house in Melbourne in no time.
