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VIC Bargain hunting in Melbourne's 20 cheapest suburbs

Discussion in 'Where to Buy' started by Beanie Girl, 24th Jun, 2015.

  1. Beanie Girl

    Beanie Girl Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    243
    Location:
    Melbourne
    This piece on Melbourne today - Caveat Emptor! ;)

    Bubble or no bubble, you can still buy a house for less than $350,000 (or quite a lot less) in 20 Melbourne suburbs (or slightly further afield). Here's the proof:

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    1. Melton South
    Median house price:
    $260,501
    Train travel time to CBD: 44 mins (from Melton Station)
    Where it is: 35 kilometres west of the CBD; near Brookfield and Kurunjang.
    A house we found: 83 Childs Street, $259,000; a three-bedroom brick home with above-ground pool and a double garage.
    What the agent says: "Ideally located close to parks, schools, shops and the train station."

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    2. Melton
    Median house price:
    $265,000
    Train travel time to CBD: 44 mins
    Location: 35 kilometres west of the CBD; near Brookfield and Kurunjang.
    A house we found: 8/49-55 Tullidge St, $265,000, a three-bedroom townhouse with a double garage.
    What the agent says: "The perfect home for that open country feel but still walking distance to everything."

    [​IMG]3. Millgrove
    Median house price:
    $275,000
    Train travel time to CBD: No train line
    Location: 63 kilometres east of the CBD; near Warburton and Wesburn.
    A house we found: 5 Margaret Court, $240,000-$260,000; a two-bedroom cottage on 780 square metres with a rear deck.
    What the agent says: "Enjoy the sweet sounds of the bubbling creek nearby as you potter in the garden."

    [​IMG]4. East Warburton
    Median house price:
    $280,000
    Train travel time to CBD: N/A
    Location: 67 kilometres east of the CBD; near Millgrove and Wesburn.
    A house we found: 6 Golden Perch Avenue, $265,000; a single-bedroom ranch-style home on 1.5 acres with veggie garden and chook house.
    What the agent says: "All you could want to live a life of peace and tranquility."

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    5. Frankston North
    Median house price:
    $295,000
    Train travel time to CBD: 57 mins (from Frankston Station)
    Location: 37 kilometres south-east of the CBD; near Seaford and Carrum Downs.
    A house we found: 42 Nodding Avenue, over $299,000, a three-bedroom home on 676 square metres.
    What the agent says: "So much love has been put into this home."

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    6. Kurunjang
    Median house price:
    $295,000
    Train travel time to CBD: 44 mins(from Melton Station)
    Location: 40 kilometres west of the CBD; near Melton and Diggers Rest.
    A house we found: 58 Black Knight Way, $299,000-$319,000; four bedrooms, ducted heating, on 684 square metres.
    What the agent says: "Located in the ever popular Kurunjang estate."

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    7. Melton West
    Median house price:
    $330,000
    Train travel time to CBD: 44 mins (from Melton Station)
    Location: 40 kilometres west of the CBD; near Brookfield and Hopetoun Park.
    A house we found: 2/7 Harrington Drive, $310-$325,000; four bedrooms, formal living, ducted heating.
    What the agent says: "Close to shopping centre, schools, public transport."

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    8. Werribee
    Median house price:
    $332,500
    Train travel time to CBD: 40 mins
    Location: 32 kilometres south-west of the CBD; near Tarneit and Point Cook.
    A house we found: 2 Edinburgh Court, $290,000-$325,000; three bedroom home in cul-de-sac with double carport and shed.
    What the agent says: "Beautifully presented family home."

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    9. Wyndham Vale
    Median house price:
    $335,000
    Train travel time to CBD: 45 mins
    Location: 36 kilometres south-west of the CBD; near Hoppers Crossing and Werribee.
    A house we found: 4 Ellenborough Crescent, $340,000-$360,000; three bedrooms, two bathrooms, 7kw airconditioner, double garage.
    What the agent says: "Close to the Wyndham Vale train station."

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    10. Cranbourne
    Median house price:
    $340,000
    Train travel time to CBD: 1 hr 1 min
    Location: 43 kilometres south-east of the CBD; near Narre Warren South and Clyde North.
    A house we found: 28A Cochrane Street, $340,000; three-bedroom unit with courtyard and long-term tenant.
    What the agent says: "A wow factor the minute you step inside."

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    11. Dallas
    Median house price:
    $340,500
    Train travel time to CBD: 39 mins (from Upfield Station)
    Location: 18 kilometres north of the CBD; near Campbellfield and Glenroy.
    A house we found: 142 Railway Crescent, $340,000-$360,000; three bedrooms, polished boards, garage.
    What the agent says: "A little TLC needed."

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    12. Albanvale
    Median house price:
    $341,500
    Train travel time to CBD: 32 mins (from St Albans Station)
    Location: 19 kilometres west of the CBD; near Kings Park and St Albans.
    A house we found: 52 Appian Drive, $335,000-$355,000; three bedrooms and separate bungalow, double garage, shed.
    What the agent says: "Perfect for someone looking to downsize."

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    13. Brookfield
    Median house price:
    $345,000
    Train travel time to CBD: 44 mins (from Melton Station)
    Location: 43 kilometres west of the CBD; near Melton and Hopetoun Park.
    A house we found: 29 Citronelle Circuit, $290,000-$330,000; four bedrooms, two bathrooms, two living areas.
    What the agent says: "Impressing with stylish modern flair."

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    14. Warburton
    Median house price:
    $345,000
    Train travel time to CBD: N/A
    Location: 72 kilometres east of the CBD; near Wesburn and Gladysdale.
    A house we found: 17 Sussex Street, $310,000-$340,000; three bedrooms, sunroom, large open-plan living, undercover outdoor area.
    What the agent says: "Set among lovely gardens full of established fruit trees."

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    15. Wallan
    Median house price:
    $347,500
    Train travel time to CBD: 58 mins
    Location: 50 kilometres north of the CBD; near Whittlesea and Eden Park.
    A house we found: 27 Wellington Street, $290,000-$320,000; three-bedroom cottage with a sunroom.
    What the agent says: "Offers more than meets the eye."

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    16. Cranbourne West
    Median house price:
    $350,000
    Train travel time to CBD: 1 hr 1 min (from Cranbourne Station)
    Location: 41 kilometres south-east of the CBD; near Sandhurst and Lyndhurst.
    A house we found: 30 Jupiter Crescent, above $360,000; new three-bedroom house with stone kitchen benches and family room.
    What the agent says: "Located amongst all amenities."

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    17. Hoppers Crossing
    Median house price:
    $350,000
    Train travel time to CBD: 32 mins
    Location: 23 kilometres south-west of the CBD; near Werribee and Tarneit.
    A house we found: 12 Boston Place, $349,000-$380,000; double storey house with four bedrooms and quiet court location.
    What the agent says: "Located in the ever popular Wilmington Estate."

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    18. Jacana
    Median house price:
    $350,000
    Train travel time to CBD: 34 mins
    Location: 16 kilometres north of the CBD; near Broadmeadows and Glenroy.
    A house we found: 121 Langton Street, $387,000 (just sold); three bedrooms, 700 metre block.
    What the agent says: "Attention all developers and investors."

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    19. Kings Park
    Median house price:
    $350,000
    Train travel time to CBD: 35 mins (from Keilor Plains Station)
    Location: 20 kilometres north-west of the CBD; near St Albans and Keilor Downs.
    A house we found: 11 Palace Court, $390,000-$430,000; three bedrooms, study nook, family room, remote carport.
    What the agent says: "Located in a quiet pocket of Kings Park."

    [​IMG]20. Diggers Rest
    Median house price:
    $350,400
    Train travel time to CBD: 46 mins
    Location: 33 kilometres north-west of the CBD; near Sunbury and Gisborne South.
    A house we found: 25 Eureka Road, $360,000-$380,000; three bedrooms, two living areas, large powered shed.
    What the agent says: "Has commercial grade concrete throughout, great for heavy vehicles."
     
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  2. mitchNik

    mitchNik Member

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    7
    Location:
    Sydney
    Great Info...
     
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  3. Arashi87

    Arashi87 Well-Known Member

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    19th Jun, 2015
    Posts:
    101
    Location:
    Sydney
    Wish we can get those info every week in every state :p
     
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  4. Kael

    Kael Well-Known Member

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    18th Jun, 2015
    Posts:
    277
    Location:
    Sydney, NSW
    Impressive list! I knew I'd see my IP's suburb on there... Haha.
     
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  5. albanga

    albanga Well-Known Member

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    19th Jun, 2015
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    1,106
    Location:
    Melbourne
    Had Jacana on the radar for a while now as my pop still lives there. Have not dissected it yet though but just basing my thoughts on location to CBD, existing infrastructure, ripple effect of Glenroy, decent block sizes and development underway.
     
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  6. stumpie

    stumpie Well-Known Member

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    18th Jun, 2015
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    Location:
    Paradise
    albanga

    I've been watching Jacana for a little while. I'm not in Melbourne so not really familiar with this area, wondering if you could share your thoughts on this suburb, what's it going for it in terms of services and transport.
     
  7. bythebay

    bythebay Well-Known Member

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    23rd Jun, 2015
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    160
    Location:
    By the bay
    Surprised Frankston didn't make the list
     
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  8. eyespy1

    eyespy1 Member

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    18th Jun, 2015
    Posts:
    19
    Location:
    Sydney
    Yeah what are the suburbs of jacana and dallas like ? What to expect from tenants in that area ?
     
  9. sash

    sash Well-Known Member

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    19th Jun, 2015
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    3,214
    Location:
    Sydney
    Werribee tick
    Hoppers Crossing tick
    Melton South tick
     
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  10. sauber

    sauber Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    185
    Location:
    VB
    Frankstons median is round 400k.
     
  11. albanga

    albanga Well-Known Member

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    19th Jun, 2015
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    1,106
    Location:
    Melbourne
    I have not really performed my due diligence on the suburb yet to be honest. Just going from what I know of the area. It is serviced by many buses and also it's own train line which will take you about 25 minutes to get into town.
    Fairly decent freeway access, parts overlook a nice gulley. I think it has a decent private hospital as well. It also has plenty of sporting options for kids. Yields are also decent.

    The negatives though are a very old population whom most appear to be on the pension, average schools and need to travel into Glenroy/Broadmeadows for decent shops.

    If you have a long outlook my guess is it will be a winner but you need to be holding for 10 years. As the older generation pass on the suburb will begin to gentrify and the pre war homes make way for new homes. I am seeing a bit of development actually happening now.
     
  12. albanga

    albanga Well-Known Member

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    1,106
    Location:
    Melbourne
    Again this is just from my limited knowledge but both suburbs have potential tenant risks. Jacana is very old and you may have pensioners renting your property, they will take care of it no doubt but not sure how tough I could be if an 80 year old who was struggling with payments.
    Dallas is a bit more slummy and quiet industrial at neighboring camblfield, you may find a lot of "Cashy" tenants whom are not really high on my desireable list.
     
  13. Notlad Samoht

    Notlad Samoht Active Member

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    13th Aug, 2015
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    38
    Location:
    Melbourne
    Check out St Albans. I was surprised how much it appears to have jumped. I am not sure if the official figures suggest the same, however I have monitored the house sales for the last year. In July last year you could manage to find a heap of houses under 350k and a fair few under 400k. Now, it seems like there isn't to many uynder the 350k range and I have noticed there is a lot more house fetching 400-550k range. It's definitely got a bad rep, but whatever, it seems to have gone up in value and I believe the trend will continue. My thoughts are that a lot of people (mainly Vietnamese) would like to live in Sunshine, however that has become too expensive for many families. St Albans definitely offers a good range of restaraunts. Like Sunshine, there is a massive population of Vietnamese and no doubt there will be many more wanting to buy in affordalble areas with a Vietnamese community already established.
     
  14. Tekoz

    Tekoz Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    1,244
    Location:
    Sydney
    Are those area mentioned in the list above a good buy for long term hold for CG type of investing ?

    Any comments would be greatly appreciated.
     
  15. juzzy

    juzzy Well-Known Member

    Joined:
    14th Aug, 2015
    Posts:
    156
    Location:
    Melbourne
    I can't speak for the suburbs listed above that are East of Melbourne, but I know the ones to the West very, very well. I grew up in these areas.

    Personally, I wouldn't touch them if you are looking for CG. Way too speculative for my liking. There is still a LOT of land out west within a 40 minute drive to the CBD. And the train stations in these areas tend to have a lot of parking, so you don't necessarily have to live walking distance to the station (we don't).

    However, depends how long term you are looking. My Grandparents bought their place in Broadmeadows for £10k back in the 60's. :p
     
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  16. TMNT

    TMNT Well-Known Member

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    23rd Jul, 2015
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    1,388
    Location:
    Melbourne
    Yeah just proves that first home buyers complainijg the 550k house they so deserve is unaffordable should read the article

    Admittelsy half of those suburbs i think are too far from the cbd to be considered as reasonable travel times
     
  17. The Y-man

    The Y-man Moderator Staff Member

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    Melbourne
    Since when did Warburton become a suburb of Melbourne??????:eek:

    The Y-man
     
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  18. MTR

    MTR Well-Known Member Premium Member

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    Perth, Melbourne, USA
    Beanie G posted this threaded 5 months ago, anyone want to comment on these areas, and whether they have moved?

    MTR
     
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  19. melbournian

    melbournian Well-Known Member

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    Location:
    melbourne
    Looked at Wyndham vale & Werribee over last month you still can get places older houses for less than 300k on decent size blocks
     
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  20. Soul

    Soul Well-Known Member

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    1st Jul, 2015
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    Location:
    Melbourne
    Yes, It is an old article, Most of them have moved, but you can find deals. New land releases in most of the areas except beautiful Warburton in Yarra ranges, 70Kms from Melbourne .

    Diggers rest is a future growth corridor area, under the flight path though.
     
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