Melbourne Top Performing Suburbs Criteria

For those seeking to invest in Melbourne’s property market, the key factors to consider are affordability, capital growth prospects, rental yield, and population growth.

While Sydney’s median house price sits well in excess of the million-dollar mark, Melbourne’s median house price is still relatively more affordable. This affordability factor makes Melbourne a more attractive option for first-time investors as well as those looking to diversify their property portfolio.

Another key factor to consider when looking at potential investment suburbs in Melbourne is population growth. As Australia’s fastest-growing capital city, Melbourne has been experiencing rapid population growth over recent years, which is expected to continue due to its strong economy and job opportunities. Investors should zero in on suburbs that are experiencing or are projected to experience significant population growth.

In terms of capital growth prospects, infrastructure projects such as the Suburban Rail Loop Stage 1, the North-East Link, and the Melbourne Greenline Project will have a significant impact on the value of properties in certain areas, making them prime investment opportunities.

10 Best Suburbs in Melbourne to Invest

With the pandemic now behind us, Melbourne’s property market is once again showing strong signs of recovery with a surge in demand from buyers and investors.

Recommendations for the top-performing Melbourne suburbs in 2024 were compiled by analysing data from the following sources: CoreLogic, Price Waterhouse Coopers, Real Estate Institute of Victoria (REIV), and Domain. We have also consulted with industry experts to provide further insights.

Tips For Investors

• Look for growth potential:  When considering a suburb for investment, it’s important to look at its growth potential. This can include factors such as population growth, infrastructure developments, and future plans for the area.
• Consider the rental market: If you’re looking to rent out your property, make sure to research the rental market in the area. Look at average rental prices and vacancy rates to get an idea of potential returns on your investment.
• Stay informed about future developments:  Keep an eye on any future developments or projects planned for the suburb you’re interested in. These can have a significant impact on property values and the overall desirability of the area.
• Research property prices:  It’s important to research property prices in the suburb you’re interested in. Look at recent sales data and compare it to other suburbs to determine if your investment is priced accordingly.

Upcoming Webinar

We’ve endured a property market roller coaster ride over the past 12 months, and a tidal wave of change over the past 3 years.

Australia’s real estate market rebound is well underway. The real estate crash, bubble and bust did not happen. Instead, we’re on the precipice of the Wealth effect.
So, stop paying attention to the clickbait doom and gloomsters and start paying attention to what we actually know about the Australian property market. It is dynamic, it is resilient, and it is growing.

The big question…will you jump on the perfect storm of opportunity or wait and watch on the sidelines?
We’ve compiled the 7 trends defining 2024 so that you don’t get sidelined.

Who will benefit the most in 2024? Tune In as Grant Ryan ends the year with his annual must-know trends:
1. What’s in store for the property market in 2024
2. How housing demand is creating the ‘wealth effect’ over the next decade
3. Big cities are making a comeback and fast-tracking housing supply
4. The decade long rental boom… no signs of slowing down
5. Interest rates cuts and cost of living pressures ease…but when?
6. The capital city scorecard – where to invest and why