VIC Melbourne PPOR less than $1m

Hello everyone, I'm in the market for a new primary place of residence under $1 million in Melbourne, with plans to either convert it into an investment property or sell it later on.

I've been exploring townhouses in the well-liked eastern and southeastern suburbs, like Doncaster and Donvale, but I'm not convinced about their long-term growth potential, although the rental yield seems satisfactory. In the northern areas, such as Reservoir and Greenvale, the houses are appealing, but I'm worried about the insufficient amenities and public transport options.

Does anyone have suggestions for other suburbs I should consider?

 

Check out the corridor on the Frankston line from say Caulfield to Cheltenham

 

Doncaster house under $1M I dont think so

 

Greenvale?

Walk to Oak Park train station, roughly 12km from the city. Close to everything and great spot.

Long term growth potential is there for Oak Park too.

All <$1M. Yes, it needs an update if you are prepared to put in some work and make it your own! If not, disregard

https://www.realestate.com.au/property-house-vic-oak+park-144177392

 

What about a beautiful home in Pascoe Vale?

https://www.realestate.com.au/property-house-vic-pascoe+vale-144723296

 

Also Mulgrave 3170

 

I live in Reservoir. It’s a great suburb! So undervalued for how close it is to cbd and awesome inner northern suburbs like northcote and thornbury. It has all the amenities you would need and has trams and a train station.close to lots of parks and the creek, heaps of nature nearby.

 

Why is Ringwood out of the list?

 

Endeavour Hills - can get a fully renovated house on smaller block for well under $1M.
Disclosure - selling there

 

Agree. Love Rezza though I am in Bundoora but very close to the creek and lots of parks around. Inner North will have its time sooner than later.