House prices have lifted by 5.3% while unit prices have grown by 4.4% in spite of current circumstances. In fact, CoreLogic's Profile of the Australian Residential Property Investor report found that, as an asset, real estate is worth more than both Australian superannuation and listed stocks. An example of this is the Geelong Port which will be the new home of the Spirit of Tasmania by the end of 2022. The rental population is healthy at 19.09% with vacancy rates as low as 0.87%. Confidence has improved in the Melbourne property market and Victoria is predicted to have an 8%-12% growth rate for 2021 according to Doron Peleg from Riskwise. The recent Donnybrook station upgrades improved access, safety and comfort for passengers, demonstrating the need for infrastructure growth in one of Victoria’s fastest-growing communities. Solid middle-market areas, including the municipalities of Melville, Stirling and Joondalup, are poised for good growth in 2021. ⭐ The Melbourne suburb to invest in if: you want to invest in luxury vacation-type rentals, and you want safe, high-income tenants. Find the best suburbs and streets to live in Melbourne (Greater) on Homely.com.au Mount Martha is known for being a family-friendly area. The best investment suburbs in Melbourne are, generally, the ones with a strong history of capital growth which is likely to continue into the future. Geelong has a median house price of $788,000* with fantastic transport connections to Melbourne and a comprehensive range of infrastructure assets not usually found in a regional area such as sea, rail, road and air. West Footscray. Exit Hume Freeway onto Donnybrook Road, turn right and discover why this is becoming so popular. Mark my words,” he said. In this article, we break down what we think are 7 of the best suburbs to invest in Melbourne for 2021, based on data, research, and opinions from experts and analysts. Featured in Domain Property Report’s list of suburbs with the highest rise in property prices, it sits at a 7.9% compound growth rate for houses, but -0.8% for units. From first home buyers to investors, we have your finance options covered! Maybe not the same ones as the last five years, but they will be regions. Donnybrook is a rapidly growing area in Melbourne’s north. We’ve curated a list of our top suburbs: In Melbourne’s south-east, you will find the peaceful yet ever-expanding Officer. The Sunshine Coast was named among the top picks for property price growth in 2021. ⭐ The Melbourne suburb to invest in if: you want a low-risk, low-capital, great all-rounder … ⭐ The Melbourne suburb to invest in if: you're interested in positively gearing your property and you want a steady cash flow year in, year out. You should consider seeking independent legal, financial, taxation or other advice to check how the website information relates to your unique circumstances. Top 26 suburbs for 2021 . And I’m absolutely certain that in the next five years, the best-performing property markets will again be regions. Artist's impression of Satterley's True North Greenvale community. Mount Martha is the clear winner when it comes to beautiful homes set in exclusive sections of the suburbs, overlooking the ocean. When we take a look at investor statistics within the Australian property market throughout the last year, we see the lowest participation rate on record. Botanical is one of Satterly's most sought after estates in Victoria. Make sure you're buying a product catered to your future customers - local tenants. These numbers have actually out-performed pre-2020 figures, which shows how strong and resilient the Melbourne property market is! In addition to a predicted population growth of 40% in 40 years, it’s easy to see why Melton holds significant long term value. The fast-growing and extremely popular suburb of Mickleham is always a top consideration for property investors and homeowners alike. Median house sale price in Corio is $392,500 and a median weekly rent of $320. One of Melbourne’s more established suburbs, there are few reasons why it's a hotspot for 2021. A booming but relaxed community, Geelong is one of Australia’s fastest-growing regional cities and offers attractive lifestyle options just one hour from Melbourne. Tyabb and Somers, which are the two best performers, now have median prices close to the $1 million mark at $950,000 and $970,051 respectively. This has seen Melton become increasingly popular with homebuyers in recent times. Growth rates are modest but the rental yield is strong at 3.7% for houses and 4.8% for units and a 1.51% vacancy rate overall. (Source: Getty) Covid-19 doesn’t seem to … Melbourne's property market follows the same story as Sydney growth suburbs. Watsonia North & Coburg North. Carnegie scores high for livability because of multicultural "eat street" on Koornang Road … McCrae shows a 24.3% annual change in house prices according to a Domain Property Report. Box Hill. Below, the top 20 fastest growing suburbs based on median house price growth over December 2019. Dandenong foothills. 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. Life in the picturesque estate is rich with city views, making this residential community hard to beat. Even for those eager to buy units, this suburb shows potential with a 7.1% growth rate. Starting with the location, Leah explains its proximity to popular suburbs like Baxter and Pearcedale are turning buyers to this area. Half of the suburbs in Melbourne’s top 10 list – Tyabb, Somers, Crib Point, Rye and Tootgarook – are located in the Mornington Peninsula region. Moving to Melbourne (Greater)? suburb: mar-21 median: toorak: $5,650,000: east melbourne* $3,912,500: deepdene* $3,442,500: brighton: $3,435,000: canterbury* $2,915,000: kew: $2,884,500: malvern: $2,680,000: hawthorn: $2,655,000: portsea* $2,630,000: balwyn: $2,581,500: hampton: $2,580,500: middle park* $2,560,000: armadale* $2,550,000: albert park* $2,535,000: camberwell: $2,435,000: south yarra* $2,295,000: … Kingston region. Offering the drawcards of Werribee and the bay on its doorstep, the leafy suburb of Tarneit has seen consistent growth over the years. Housing market suburbs made up 41 of the top 50, while just nine suburbs were based on capital growth for units. Bayside region. Houses in Cottesloe in Perth were the surprise inclusion in the national rankings as the lone WA suburb to make the cut. Bayside and South-Eastern Suburbs. So, when it comes to investing in a property, what are the best value Melbourne suburbs? With ample options to enjoy the outdoors from gardens, golf courses and parks, Craigieburn also offers award-winning housing constructions. Purchasers can look forward to a local town centre, three primary schools and a high school, three community centres and 44 hectares of local parks and sporting reserves. The suburb holds a median house price of $390,000* and boasts Victoria’s fastest-growing economy over the past 10 years. This is another growth suburb in Melbourne city that defied gloomy forecasts for the Melbourne property market. Featuring the Greenvale Reservoir, Greenvale Shopping Centre and a 10-hectare sporting precinct in addition to its close proximity to Melbourne Airport, Greenvale has long been an aspirational suburb in Melbourne’s north. Sunbury. Disclaimer: The information on this website is for general information only. Known as the gateway to the world-renowned coastline of south-west Victoria via the Great Ocean Road, the coastal city of Geelong has always been a consideration for investors within Melbourne’s property market. It's another low-risk, safe all-rounder suburb tipped for growth in the Melbourne property market. In summary, Brunswick, Northcote, Collingwood, Brighton, Abbotsford, and Albert Park are the most popular suburbs for houses and Fitzroy, Collingwood, Richmond, Toorak and St Kilda are the most popular areas for apartments all year long. The median house price in Tarneit stands at $603,000*, and located only 25kms from Melbourne’s CBD, Tarneit’s growth shows no signs of slowing down. That being said, rental yields are low in the suburb. Carnegie. This exciting estate blends its beautiful natural surrounds with urban living. Sunbury basically ticks all the boxes that you want in a rental property right now. Croydon North, where the median house price is $787,000 with a gross yield of +3.4% andelt a media unit price of $588,000 and a yield of +3.6%. ⭐ The Melbourne suburb to invest in if: you want a low-risk, low-capital, great all-rounder investment property, and bidding rounds don't scare you. Melbourne’s south-eastern suburbs boast distinct communities, neighbourhood attributes, and differing property growth cycles. If you're looking at Melbourne for growth suburbs you're looking in the right direction. Secondly, it’s close to the Mornington Peninsula Freeway, so it’s great for buyers looking for an easier commute. Among those tipped to post considerable growth are: In Queensland: Townsville; Hervey Bay; Sunshine Sunshine, NSW Sunshine, VIC Coast; Gold Coast Bentleigh East. This will likely continue to be the case for a while. Officer is home to one of Satterley’s most popular master-planned communities, Arcadia. Glen Eira region Going into 2021, investors are asking themselves how the Victorian capital will fare over the next 12 months and whether prices will bounce back, fast. Of the major capital cities, Melbourne was one of the most impacted by the COVID-19 outbreak. With the property market expanding through substantial government stimulus, record low interest rates and increased investment value, it looks to be an opportunistic time for investors who have been sitting on the sidelines. Carlton, considered as the best inner-city suburb in Melbourne, also shows growth potential for this year. It also generated the highest yield rental return at 7.1%. Thomastown, where the median house price is $587,000 with a gross yield of +3.4% and a median unit price of $437,000 with a yield of 4.2%. A developing town in south-east Melbourne, Officer has a peaceful balance of natural surrounds with urban conveniences. We look at the ways savvy savers can take to shape up their home deposits. The fact that multiple high-quality developers have sought out this area in Melbourne is a clear sign that many believe Packenham East is primed for growth. Just 24kms from Melbourne, this well-established and family-orientated suburb continually sees high housing demand. You'll likely struggle to get your hands on a property here, and might be faced with tough bids. Maybe something to look towards if you're struggling to get your hands on a property in Sunbury. It boasts a modest rental yield but the growth rate for houses is really why this suburb has such appeal. Melbourne suburbs tipped for growth in 2021: Springvale. The biggest drawcard for Glen Waverly is its education opportunities, with Glen Waverly Secondary College acknowledged as one of the best public schools in Victoria. Learn more about how :Different can help you navigate through the complexity with our obligation-free rental appraisal report. Sunbury. Image source: Gekko Gallery, Shutterstock. The three suburbs around Canberra promising to be the best investment in 2021 are Franklin to the north, Jerrabomberra on the border and Coombs in the developing Molonglo Valley, according to a new report from national real estate agency Upside. A future town centre, two nearby train stations and three brand new schools at its doorstep make Arcadia an excellent option with competitive investment value. Growth is expected to remain quite mild with property rents predicted to increase +0 to +3 per cent. See how much you'll save by switching over to :Different. The only real issue is that this suburb has become a bit over-hyped in the Melbourne property market. If you can afford it, houses are a great option in Brunswick East, but we would stay away from units. Hobart and TAS property market forecast 2021 In the base scenario, Hobart properties are forecast to rise +3 to +7 per cent in 2021. An affordable and ideal location for growing families, the suburb offers a median house price of $578,000* and rental returns averaging around 3.77%, meaning great opportunity for investors. Satterley’s True North community caters to investors looking for great value in Greenvale and the north region of Melbourne. With commuter facilities such as the train, tram and hospitals, this suburb saw a capital gain of 20.84 per cent over 2020. Mickleham is approximately 10 minutes away from a hub of amenities in nearby Craigieburn such as shopping centres, sports facilities, schools, and dining options. Enter a suburb or postcode below to get comprehensive suburb profiles detailing house and unit medians, capital growth, demographics and much more without paying a cent. Melbourne is officially the fastest growing capital city in Australia, with about 1760 people moving to the Victorian capital each week. The median price of houses have climbed by 23.3% on a year-on-year basis as well, which is impressive considering how pricy they already are. As a result of this popular suburb being built out, demand is now increasing for the new neighbouring suburb of Pakenham East. The Kingston region is expected to see a boost in its popularity in 2021, according to an interview with Nathan Jones for Savings.com. Still, prices are quite low here, so it's a great option if you're on limited capital. Some suburbs have defied the odds though. According to the Upside data, Box Hill ranks as one of the best-performing suburbs in Australia. As a result of this popular suburb being built out, demand is now increasing for the new neighbouring suburb of Pakenham East. Boasting a median house price of $593,000* and a rental yield of 3.5%, Officer has always been a hotspot for home buyers due to its accessibility to train stations, the Princes Freeway and some of Melbourne’s best schools. Bald Hills State School is central to the Bald Hills area of Brisbane, where house … ⭐ The Melbourne suburb to invest in if: you’re looking for very high compound growth rates. Greenvale’s community has established over the past 20 years to become a popular spot for investors and owner-occupiers alike. Melbourne housing downturn leaves just five growth suburbs, but tide is turning Buyers flocking back to the market at “unprecedented” levels 87A Elder St, Watsonia sold for $655,000 last month. Once built, Pakenham East will feature 7200 affordable new homes and will create 1300 new jobs and generate more than $1 billion for the Victorian economy over the coming years. Saving for a healthy home deposit that suits your budget may take months or years. However, as Michael Yardney shares on Property Update, it’s safer to put your wallet away when you see units, especially in the inner city. 16. Enter your suburb or postcode Please enter suburb or postcode. 2021 is expected to bring an 8-12% growth rate for properties in Melbourne according to experts. Median house price trends: Picture: Upside. Bald Hills, QLD. Pakenham located 54kms south-east of the CBD, has been one of the fastest-growing suburbs in Melbourne over the last 20 years. Going forward, avoid dumping your money in any CBD real estate. Like its diverse community, the properties available here are just as varied, from apartments and family homes to renovated cottages. The suburb topped the list for lowest median unit value in Melbourne last year at $364,918. 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. Since properties here are cheap it's likely an easy and safe option for a positively geared property. It's a strong growth suburb in Melbourne since it benefits from the regional trend and the work-from-home trend which has created a demand for spacious houses. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.