5 Affordable Suburbs in Melbourne for Property Investment
Are you looking for the best suburb in Melbourne for property investment? If yes then this blog post is for you. We have brought you a list of five most affordable suburbs that offer great opportunities for long-run property investment. You will get good rental returns, accessible entry prices and instant growth rates, if you invest in the following suburbs.
Just 26 km north of Melbourne’s CBD, Craigieburn is a lively satellite suburb located outside of Melbourne, Victoria. Due to the increasing demand for affordable housing, the suburb has become home to shopping centres, commercial developments, schools, hospitals, parks, entertainment hubs and sporting facilities. The population of Craigieburn is predicted to grow in the coming years – thanks to the development of both residential and commercial establishments.
Units here at Craigieburn are currently at a median price of $385,000, while houses are at a median price of $550,000. If you are looking for reliable and affordable housing options that can generate high rental yields, then this suburb is perfect for you.
The area has witnessed strong annual growth, and median house prices have also raised for five years.
Located between Geelong and Melbourne, Werribee is a populous suburb and is renowned as the administrative centre of the City of Wyndham. The suburb is nestled on the banks of Werribee and offers an exceptional opportunity for those who are looking for affordable housing.
It is home to beautiful parks, commercial space, shopping complexes, zoo, winery, hospitals and renowned schools. It also offers a luxurious lifestyle and is still witnessing solid growth.
Renowned for its fancy cafes and lively culture, Thomastown is one of the booming suburbs in Melbourne. It home to some of the leading financial institutions, corporate offices and boutique shops. The suburb also features the city’s best restaurants, food courts and bars within the local vicinity.
The median house price in Thomastown has increased in the fast five years. It has become of the fastest growing areas when it comes to buying affordable residential properties. With the enhancement of Metropolitan Ring Road and Northern Hospital Underway, the suburb will surely experience strong growth in the coming years.
Cranbourne is a beautiful suburb, located 43- km south-east of Melbourne’s CBD. It has a large commercial centre, beautiful parts, well-established schools, hospitals, Golf club, nature reserves and shopping complexes. The suburb has seen a massive transformation in the last thirty years. The economic and infrastructure sector has shown some exceptional growth, and there is no sign of collapse in the next 12 years.
Apart from this, it also offers affordable housing options with high rental yields to let you secure your future. You can invest in Cranbourne property market and make the most out of your property investment.
Dallas is a vibrant, multicultural and well-developed suburb of Melbourne, Victoria. It offers a median house price of $476,000, while unit provides an average of $ 370,000 with high rental yields. Apart from this, annual gains are consistent with 11.4% growth and will experience a great boom in the next five years.
Finding affordable housing options in the hotspots of Melbourne has become a challenging task. But will the help of this blog post, you can make a decision and fulfil the dream of buying your own home within your estimated budget. All the suburbs mentioned in this blog post are experiencing solid growth in the residential, infrastructure and economic sector.