Depending on how strongly you feel about the exact definitions of a suburb, Melbourne has anywhere from 300 to 400 suburbs. That’s a lot of information for a would-be property investor to keep track of. We’ve done the research to identify the areas with the best capital growth in Melbourne. We list more affordable options in detail, and at the bottom we highlight some of Melbourne’s most prestigious suburbs which will make a sure profit for wealthier investors.
Suburbs with Best Capital Growth in Melbourne
Formerly a satellite-city of Melbourne, the Melton Region has been incorporated into Melbourne proper due to population growth. Melton West is the suburb within Melton that is achieving the best returns. Melton City Council has been petitioning the State and Federal Government for $78 million in road upgrades.
Thanks to Wyndham Vale reserve, Wyndham Vale has a rich culture of sports and recreation, and the suburb is home to many AFL, hockey, and cricket teams of all ages. The City of Wyndham area has been approved for $533 million in infrastructure improvements, including 15.6 kilometres of new roads, 33 intersections, 27 bridges, and 18 full-size sports fields.
Mernda is rapidly being suburbanised with multiple estates under construction. A rail extension project to Mernda is expected to be completed in early 2019, with 8 kilometres of new rail being laid.
Formerly a municipality, the suburb of Broadmeadows is 16km north-west of Melbourne’s CBD and a history of a strong manufacturing industry. However, Broadmeadows is rapidly shaking off its old reputation as it continues to grow and develop.
Glenroy represents an opportunity for transformation. New developments have transformed the area into a haven for families that want to live a relaxed lifestyle close to everything that Melbourne has to offer.
Those are our five recommendations about Melbourne’s best suburbs for investors with a budget.
Blue Chip Suburbs Best Capital Growth in Melbourne
While there are areas in Melbourne with bigger capital growth, the price tags are just as high. For example, Doncaster East (19.10%, $1.4 million) and Malvern East (17.40%, $2.025 million). And there’s always Toorak, where the average house price grew by $500,000 to a whopping $4.75 million. But if you have the budget, those areas have the best capital growth in Melbourne.
If you’re looking for the Best Capital Growth in Melbourne, there are plenty of investment opportunities at any price point.
*Please note, this data was obtained in November 2017 and may not be accurate in the future.