With Melbourne identified by property commentators as a location worth exploring based on its solid fundamentals, high population growth, and standards of living, it's worth spending some time to explore and research some great suburbs at or below the $650k mark to see how the potential slacks up.
Melton - $470,750 median price, 4.19% rental yield, 2.21% vacancy rate, 7,962 population
Affordable, with solid schools and facilities nearby
Werribee - $615,000 median price, 4.09% rental yield, 2.37% vacancy rate, 50,026 population
Solid infrastructure investment and employment growth, with good community facilities in the area.
Corio - $485,000 median price, 4.48% rental yield, 1.13% vacancy rate, 15,482 population
Near Geelong, a solid regional growth area not far from the water. Affordable for first home buyers.
Tarneit - $650,000 median price, 4.21% rental yield, 0.76% vacancy rate, 56,375 population
Great schooling in the area, relatively affordable pricing compared to other areas of Melbourne, relatively easy travel to CBD.
Use our PropertyDirector suburb research reports to gather the info you need to figure out where to invest according to your investment criteria - check out the research tools and reports below for these 4 suburbs we've analysed.
Use PropertyDirector's suburb research tools in the following order.
1. Use the Australian Suburb Map to identify key data to identify the best suburbs to invest in a visual map format.
2. Run the Suburb Capital Growth report to view how median prices have grown over a specified period of time to determine if now is the right time to enter the market.
3. Run the Rental Yields report to confirm what type of rental return to expect.
4. Run the Vacancy Rates report to confirm supply and demand for investment property rentals in the suburb.
Subscribe to our Professional Plan for $49 per month which gives you access to all of these research reports, property tools, and more - https://www.propertydirector.com.au/choose-plan.
