Melbourne’s real estate is on growing spree , specially the eastern suburbs and central Melbourne taking the lead and its almost impossible for a average buyer to get in to this market . And also the low interest rates are helping this to large extent also increase in Asian population which is also causing the increase in prices as they have good buying power .
A median house in eastern suburbs has gone pass more than half a million then you can imagine where the Melbourne real estate market is heading! And same case in the central CBD where the apartment prices are on rise considerably in the last two years
Experts say even in the northern suburbs the same trend will continue and will see rise in the property markets , so the only area that is close to buyers is the western area which consists of lot of upcoming suburbs which are offering great quality life styles for both young and large families . This part of Melbourne is also on rise but It has offerings for all sorts of buyers not just catering to high end buyers. And its having good infrastructure for residents in terms of commute or good schools or health or shopping and many other amenities which are available to the residents . As the infrastructure is growing the time it takes to get to main CBD is under 30 mins its sign of relief for people who wants to break in to property market .
Also the facilities like train and bus services are improving to provide accessibility to the public in all times during a day. Before it was just during the peak hours of commute we used to have but now In almost all the major suburbs we have good commute is in place . Also the fact it connects the large victorian peninsulas and also cities like Geelong , before it used to be very minimal transport to these parts of victoria but now as a result of growing western part of Melbourne residents can happily live and have great life style . Even some of the western suburbs are having high prices where the homes are above million dollar range . Example Williams landing which is a new suburb and not even 5 years old but if you look at the price ranges in this suburb its will surprise you for sure and most of the house in this area are above half a million price range and also it has large train station which is ideally located and its expected that Melbourne’s second largest shopping mall is getting planned and constructed here which will be as big as our Chad Stone Mall in Melbourne. Also it has close access ot the beaches like Altona and Werribee . Also Companies like You Pack Removals and other businesses are having their presence in these western suburbs and big companies like Coles and Woolworths have established their warehouses in the western Melbourne.
Suburbs like Point cook and Sanctuary lakes have already hit that sweet spot and now prices are sort of consolidating , In point cook the median house price is well above 350k and same in sanctuary lakes as too. One more hot spot in western area close to Hopeers crossing is Truganina where there are really good amenities’ and lots of Young families are moving in and constructing their new homes. Its also right in the middle for Williams Landing train station and Tarneit V line station . This makes Truganina a must go option for Young working families who don’t want spend more money on less value .Its also in the proximity of 25 mins to City on road and also having frequent commute to the City central station.