The Great Australian Dream: Best Suburbs in Victoria to Invest In

Australia has been known to be one of the most livable countries in the world. Employment is also vast that immigrants from different parts of the world continue to flock despite the challenge to get that working visa and to meet the criteria.

One of the major cities, Melbourne, is known to have some of the coolest suburbs that Australians even prefer settling in there than in Sydney. Hunting for a solid property in 2021 is a challenge because of the many issues the world is facing right now.

Over the past year, despite the effects of the pandemic, the Victorian property market remained resilient. There has been an increase in value in areas in the state that makes it the best place to be. The contributing factors such as low-interest rates, government stimulus packages/schemes, mortgage repayment holidays, etc. Out of the many attractive suburbs in Melbourne, which ones have more attention from investors and buyers?

Melton

If you’re looking for somewhere relatively inexpensive, Melton is the one for you. Known as one of the most affordable suburbs in Melbourne, median prices increased over the past year to 5.18 percent whereas the national average has only increased to 4.3 percent.

Why it’s a good suburb:

Aside from its affordability, Melton is only 35 minutes away from Melbourne CBD and is located in a growth corridor. There’s been a huge increase in renters in this suburb and it’s been regarded as an amazing place to raise a family, but is also great for singles and retirees.

Brooklyn

Brooklyn, Victoria is known as mainly an industrial suburb with plenty of logistics organizations and car dealerships. There has been a steady growth observed in terms of houses and units – experts believe that Brooklyn is the suburb to watch Why it’s a good suburb: It’s 13kms away from Melbourne’s CBD and the cheaper alternative to Yarraville which has a median house price of $1.1 million. It’s said to be a good suburb for those who work in the city and those who just love the nightlife.

Geelong

Geelong is considered to be one of the largest regional areas in Victoria. It is within commuting distance to Melbourne – it is one hour away, so it makes a lot of sense why so many people are finding Geelong such a good place to live in. Why it’s a good suburb: Over the past year, Geelong has been in the top five suburbs with the most impressive growth. Experts believe that property prices in the suburb will continue to increase as government sectors, manufacturing, technology, education, and health sectors will also begin to rise.

Ballarat

There has been a population surge in Ballarat due to the pandemic. People living in Melbourne opted to move to the suburb where there are fewer restrictions compared to Melbourne. Now, it has become the fastest-growing town in regional Victoria. Why it’s a good suburb: Because of the active property market and exciting lifestyle, locals are saying that Ballarat has entered the Golden Era. Major investments and infrastructure projects planned to be built in the suburb will definitely increase its attractiveness to people looking into a new environment.

Sunshine

It was initially a town outside Melbourne that grew into becoming a popular residential suburb. It’s become really attractive among investors because of the affordability factor. It is also incredibly accessible to Melbourne CBD. It has that quiet middle-class feel with really great shopping districts and restaurants. Why it’s a good suburb: Sunshine is on the road to having significant infrastructure projects that will most definitely create more jobs. The expected $13 billion 27kms Airport Rail to the CBD will make the suburb a transport hub that will serve as a gateway to regional Victoria – and with the Western Rail Plan, going to Ballarat and Geelong will be easier. This alone is enough to make Sunshine a property hotspot.