A more optimistic outlook for Melbourne's property market is back.
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 1.5 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?
The suburb of Clyde in Melbourne’s south-east 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 Stockland’s Edgebrook community in Clyde is providing great value land for first home buyers who will benefit from a future park and playground, plus walking paths and recreation areas beside the Clyde Creek that runs through the heart of the community. , A dog park is also planned for this community which new residents are looking forward to. 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 was the 11th most popular suburb in Victoria for new houses for the 3-month period from Jan-March 2019, showing that despite a difficult market, buyers remain attracted to affordable areas that offer a sense of community.
Do your own research, find the lifestyle and location that suits you and your loved ones, and make your move.
Research from realestate.com.au uses Hometrack data, 12 months to Dec-18
This article was originally published on realestate.com.au as Make your move to Melbourne’s growth suburbs