VIC IP in Melton or Regional Victoria?

Hi,

I am a first time investor looking for an investing property within a budget around 500k. I would prefer to have a balance between capital growth and cash flow.

Within Melbourne, I find only Melton is affordable within my budget. I heard some negatives about the quality of Melton suburb and lower growth due to abundance of land. However, there are some schools and shopping malls nearby which might drive the price up.

On the other hand, the regional Victoria is rapidly growing and might be a good option of investment because of rental yield.

Any recommendation on which option would be better given my budget?

 

This is a better pick for your budget in my opinion