Most popular suburbs first-home buyers are purchasing. At Crest Property Investments, we source brand new and off the plan properties for buyers. At present, we are discussing and meeting with many first home buyers taking advantage of the government incentives and record low interest rates.
The covid-19 pandemic has seen many young Australians look into their borrowing capacity and buying opportunities. As we are based in Melbourne, we have seen an influx of buying activity. Most first home buyers have been targeting new house and land packages. Location has widely varied, but in Melbourne, we have seen the activity in areas that offer a sub figure of $600,000.
Here are a list of some popular suburbs first home buyers are purchasing right now
South eastern suburbs
This corridor of Melbourne stretches out to approximately 55kms to as far as Pakenham. The LGAs include – Casey and Shira of Cardinia. There are a number of growing suburbs. With the influence of property developers and local governments it is transitioning into an established community.
The three most popular suburbs at the moment:
- Clyde / Clyde North
- Cranbourne East
- Officer
Northern suburbs
This corridor of Melbourne stretches out to approximately 45kms to as far as Beveridge. The LGAs include – City of Whittlesea and Shire of Mitchell. Much of the northern corridor remain under developed, but with strong plans in place for schools, amenities and employment, its worth looking at. With the established train line, the northern suburbs will be well connected to the Melbourne CBD while some areas including Craigieburn and Epping have been well established for sometime. Many land estates will benefit from these locations.
The three most popular suburbs at the moment:
- Donnybrook
- Doreen
- Wollert
Western suburbs
This corridor of Melbourne stretches out to approximately 40kms to as far as Mambourin. The LGAs include – City of Wyndham, City of Hume and City of Melton. The western corridor has seen the most improvement to infrastructure with the Melbourne Metro Tunnel: $11 Billion, West Gate Tunnel: $6.8 Billion, Melbourne Airport Rail Link: $5 Billion and the M80 Ring Road Upgrade: $2.25 Billion. The population has increased more in this direction of Melbourne than anywhere else.
The four most popular suburbs at the moment:
- Greenvale
- Tarneit
- Wyndham Vale
- Werribee
The most popular suburbs overall
We are receiving many inquires over the last three-four months. Greenvale & Clyde North have shown the greatest buying activity.
Greenvale has been seen as an affluent suburb of the north west. It’s close to both the city and the airport, making it a highly desirable place to call home. Unfortunately prices in Greenvale have restricted many buyers to enter the suburb. Many have hoped to see prices in the low $500,000 mark, but that is no longer available.
Clyde North on the other hand has seen many land estates become available. For first home buyers, building a modest home has allowed them to enter the property market. Many estates have plans for new town centres, medical clinics, schools and more. Clyde North has been most popular with the fact a proposed train station has been a talking point for sometime. This will allow residents to commute directly the city.
Where should we buy?
Not all locations are the same and do not suit everyone. It certainly comes down to your budget and objectives. We have seen many opportunities in each corridor and see some excellent value. Some areas are better than others but we have many house and land packages sub $600,000. If you’d like to talk about your requirements, timeframe and budget, we welcome the chance to help.
If you would like some assistance in buying a property, please don’t hesitate to contact us.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you.
February 2021
