Alphabroker Mentoring Blog The Melbourne Middle Ring Suburbs to watch in 2018

The Melbourne Middle Ring Suburbs to watch in 2018

These suburbs located within a 10-25km radius of the CBD represent great value for money and both owner occupier and rental demand will remain strong according to Herron Todd White (HTW) Month in Review Report out now:

  1. The Eastern suburbs of Doncaster, Nunawading, Blackburn and Ashburton are dominated by standalone properties $1million+ due to their land values and development potential.
  2. In the South-East, Mentone and Parkdale now have a median house price upwards of $1.2million.
  3. The northern suburbs ofBroadmeadows and Thomastown are more affordable with demand driven by owner occupiers, especially first home buyers and young families, many of whom have been priced out of the eastern suburbs markets. Overall these suburbs experienced steady growth throughout 2017 and vacant land prices have enjoyed significant growth over the past 18 months.
  4. Median house prices in Thomastown reached $688,000 in the December 2017 quarter. Broadmeadows $620,000.
  5. The western middle ring suburbs are also some the most affordable are in high demand from owner occupiers, investor and developers
  6. Sunshine North median house price now $704,000, Albion $768,000, Cairnlea$698,000 and Laverton $565,000.
  7. Footscray and Airport West are undergoing heavy redevelopment, reaching median house prices of $935,000 and $912,000 respectively for the quarter ended December 2017.
  8. HTW expect the Western and Northern middle ring suburbs to experience moderate growth in 2018, especially around university campuses.
  9. Eastern ring suburbs they expect to remain relatively stable.
  10. The suburbs to watch however are the“bridesmaid” suburbs of Mill Park, Reservoir and Preston.
  11. To read the full Report either go to www.mentorvision.com.au/Trending OR subscribe for free by jumping onto the HTW website, www.htw.com.au
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