After years of soaring property prices, first home buyers are now making the most of a cooler market and capitalising on some great deals in the inner and middle suburbs of Melbourne.
Melbourne’s inner and middle suburbs that are hot right now (for houses, apartments and units) on property website realestate.com.au are:
1. Watsonia
Distance from CBD/Melbourne 16km Population 5214
Median house price $721,250 Median unit price $465,000
2. Brunswick
Distance from CBD/Melbourne 5km Population 24,473
Median house price $1,001,250 Median unit price $527,000
3. Northcote
Distance from CBD/Melbourne 5km Population 24,561
Median house price $1,278,000 Median unit price $545,000
4. Gladstone Park
Distance from CBD/Melbourne 15km Population 8338
Median house price $620,000 Median unit price N/A
5. Brunswick East
Distance from CBD/Melbourne 5km Population 11,504
Median house price $950,000 Median unit price $529,500
6. Preston
Distance from CBD/Melbourne 9km Population 32,851
Median house price $900,000 Median unit price $460,500
7. Coburg
Distance from CBD/Melbourne 8km Population 26,185
Median house price $932,500 Median unit price $535,000
8. West Footscray
Distance from CBD/Melbourne 8km Population 11,450
Median house price $802,500 Median apartment price $440,000
If you were buying your first home would you prefer to be in these suburbs or purchase further out from the city to have a larger house/block?