Sixth best to invest in Box Hill. Pros A high percentage of residents are renters. Great public transport networks. Indications of wide-scale growth in the suburb. Cons Above average price point for most investors. Rental yield for the year is relatively low. Fifth best to invest in Glen Waverley. Pros Great public transport links. Highly reputable schooling district and educational facilities. Low vacancy rate coupled with a large suburb population.
Cons Year-on-year increase in the median sale price is relatively low. The main demographic is young independents, which some might view as less reliable tenants. Fourth best to invest in Melton. Pros Access to major arterial roads. Much lower price point for 3 and 4 bedroom houses. Very high projected population growth. Fastest growing economy in the state. Cons Low Y-O-Y increase in property value.
Low current demand. Third best to invest in Mount Martha. Pros Bayside location featuring wetlands, bushland and beaches. High Y-O-Y increase in the median sale price. Higher than average rental yield.
Cons Quite far away from the CBD. A smaller percentage of residents are tenants. Might be a difficult market to break into due to the very low vacancy rate. Second best to invest in Brunswick East. Pros A high percentage of residents are tenants. Very close to the CBD. Very high capital gain increases in the last 12 months. Higher than average yearly rental yield.
Cons Relatively low Y-O-Y increase in the median house price compared to other entries on the list. The main demographic is made of young people, who might be viewed as less reliable tenants.
The best to invest in McCrae. Pros Lower than average price point for 3 bedroom houses. Massive YOY growth. Relatively high rental yield. High demand in the area. Cons Exclusive community with a small population. Canstar may earn a fee for referrals from its website tables, and from Sponsorship or Promotion of certain products.
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Postcode or suburb Postcode not found! Start typing, then select your suburb from the list. If you're looking at Melbourne for growth suburbs you're looking in the right direction. As you'd expect with the current regional property market boom in Australia , the common pattern is that growth suburbs in Melbourne are primarily situated outside the main CBD area.
Some suburbs have defied the odds though. In this article, we break down what we think are 7 of the best suburbs to invest in Melbourne for , based on data, research, and opinions from experts, Melbourne property managers , and analysts.
These suburbs are in no particular order, and we fully recognise that there are other great suburbs to invest in we may have missed. McCrae shows a Not a bad start is it? You'll find the suburb on Mornington Peninsula, which is, in general, a popular region with massive property price growth rates. Vacancy rates are as low as 0. McCrae boasts a modest rental yield but the growth rate for houses is really why this suburb has such appeal.
It's a strong choice as long as you believe in the regional trend. To capitalise on this trend consider local property management in McCrae , and start building a robust portfolio. The only real issue is that this suburb has become a bit over - hyped in the Melbourne property market. You'll likely struggle to get your hands on a property here, and might be faced with tough bids.
If you do manage to get in with the right bid and decide to treat that home as an investment, consider expert property management outfits in Sunbury , to better manage your investment property. Despite being an inner-city suburb, Melton made it into RealEstate. Even for those eager to buy units, this suburb shows potential with a 7. Despite how well most of the Melbourne suburbs property growth looks like, the inner city is still lagging behind, thanks to the lingering effects of the pandemic.
Craigieburn in Melbourne outer-north was once the country, but times have changed - though you can still count on affordable property in this rapidly developing area. Housing developments dominate, with lots of green space and sporting facilities to complement the laid-back vibe. You can expect an annual rental yield of 3. Pakenham , some 58km south-east of the CBD is very much about families, with planned estates and an outdoor vibe. In terms of lifestyle attractions, it has it all - from local primary and high schools to sporting facilities and shopping centres - with the Dandenong Ranges and Yarra Valley right on your doorstep.
Read more: Cheapest suburbs to buy in Melbourne. Werribee , situated between Geelong and Melbourne has a lot going for it from a lifestyle perspective - with river frontage, a zoo, winery, beautiful parklands, a major shopping centre, and the beach. There is also an express train to the CBD, which makes it popular with families and professionals alike.
Read more: Top 10 places around Australia to invest in an apartment.
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