Top 10 most affordable growth area suburbs
Apr 17, 2023
The north and west are by far the most affordable areas to purchase. Whether you are first home buyer, investor or looking for a change in lifestyle, you will likely be able to find something within your budget in these suburbs.
Seven out of the top ten suburbs listed have a dollar per square meter rate for land less than $1,000. The median is currently $1,068 in Metro Melbourne municipalities combined.
Wallan and Beveridge in the Mitchell Shire are in the top 3 of the most affordable areas to purchase land. The median land price in these suburbs are $365,000 and $351,500 respectively. Although affordable, prices have remained stable over the last 12 months.
Four of the top 10 are within the Melton Municipality which has a median land price over $400,000 for the fourth consecutive month and a median rate of $1,077 per sqm for land.
These areas provide not only affordability but good lifestyle options, rental yields and a variety of land sizes to suit with ample of current and future amenities and services.