Recent headlines have been filled with doom and gloom about Melbourne’s falling home prices – but you need to read between the headlines to understand what’s really happening in the property market.
Dig a little deeper and you’ll realise the picture for home buyers in Melbourne and elsewhere in Victoria is not as bleak as it would seem. In fact, if you’re about to make your first move into home ownership, or if you’re upgrading to make room for a growing family, there’s plenty of evidence that building a place of your own now is as good a time as any.
Recent research from realestate.com.au has found Melbourne’s year-on-year growth has fallen, but only by 1.9 per cent. Regionally, Victoria is outshining the rest of the country with the former gold rush town of Ballarat enjoying Australia’s strongest regional price growth in median house price – a buoyant 6.4 per cent.
Regional cities like Geelong and hubs in the Gippsland area are also ideal destinations for anyone wanting to take a first step onto the property ladder.
These areas not only offer home affordability but the kind of day-to-day living most Aussies aspire to: a strong sense of community and the chance to enjoy the great outdoors.
The essentials are also covered, such as well-equipped schools, shopping centres and medical facilities, and the relaxing latte lifestyle. So, where are new homeowners choosing to settle?
Melbourne’s highest growth suburb
Research from realestate.com.au found that Clyde North in Melbourne’s south-east was the city’s highest growth suburb for 2018, based on median house price. Only 55km from the CBD, it has a rich past as a gardening and dairy farming area, and it retains much of its rural appeal for those wanting a quieter lifestyle.
Developments such as Edgebrook are bringing quality homes, schools, shopping, childcare, community centres, playgrounds, barbecue areas and parks to the area. A magnet for young families and first home buyers, the latest masterplanned estates ensure everything is within easy walking distance or, at the most, a short drive away.
In the north-west, families are heading for the hills – the rolling hills and fields within sight of the picturesque Macedon Ranges, renowned for its award-winning gardens, forests, artisan food and wines.
More and more Melburnians are discovering the beauty of the area and the benefits of living within an hour of such stunning natural beauty. As a result, first home buyers and young families are looking to build in estates with easy access to the Macedon area as well as Melbourne CBD.
The Highlands community in Craigieburn is the ideal place for such buyers, with schools, shopping centres, and more than 20 parks as well as world class sporting facilities and easy transport to the CBD.
According to data from realestate.com.au, Craigieburn recorded an 8.9 per cent growth in median house price in 2018, showing that despite a difficult market, buyers remain attracted to affordable areas that offer a sense of community.
So, don’t be deterred by those daily headlines. Do your own research, find the lifestyle and location that suits you and your loved ones, and make your move.
This article was first published in www.realestate.com.au. Here is the link to the original article: https://www.realestate.com.au/news/make-your-move-to-melbournes-growth-suburbs/