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The top 10 Melbourne suburb property picks

 

Top suburb picks

 

The property markets are running hot in 2021, but there are still some opportunities for growth in certain areas.

 

Pete Wargent, co-founder of Australia’s first national property buyer’s agency network BuyersBuyers said that demand has shifted towards houses through the pandemic, but as lending restrictions come into focus next year there will be a ripple effect into some of the locations where price growth has lagged.

 

Mr Wargent said, “affordability will begin to bite for houses in Melbourne’s top-performing suburbs next year, but there are still suburbs and pockets where prices have not blown off.”

 

“These areas offer an opportunity to catch this property wave for buyers in Melbourne” Mr Wargent said.

 

Doron Peleg, founder of RiskWise Property Research said, “just as all of our top 10 danger zone suburbs have been focussed on units, the top picks for buyers are all houses in suburbs where prices remain reasonable”.

 

“In Melbourne, the top picks range from around 20 to 40 kilometres from the centre of the city, and we expect family-appropriate housing in these suburban locations to perform well from here” Mr Peleg said.

 

 

Figure 1 – Top 10 Melbourne property picks

 

Pete Wargent of BuyersBuyers said stock levels have been low through this cycle to date but should pick up as Covid-19 restrictions are eased.

 

Mr Wargent said, “we believe there will be more choice for buyers over the coming 3 to 6 months, but as the market for detached homes is still competitive buyers need to be clear about their strategy and be able to act decisively”.

 

“Melbourne has experienced the deepest impact from lockdowns, and some Victorians have relocated interstate”.

 

“But there is also a wall of pent-up demand from frustrated homebuyers in Melbourne, and there will undoubtedly be a dramatic rebound inactivity” Mr Wargent said.

 

ENDS

 

For all media enquiries, contact BuyersBuyers.com.au Media Manager Alison Sollory, alison.sollory@buyersbuyers.com.au

 

Visit www.buyersbuyers.com.au

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