If you’re finding it hard to break into the housing market, it could be worth considering a unit as your first home. Unit blocks can be found in pockets all over Melbourne, including within some of the most sought-after suburbs, which means you have the chance to buy your first home in a great area.
To help you with your search, the People’s Choice of Housing is a new way to look at Melbourne’s most affordable and liveable suburbs.
We can’t find your perfect home – that’s up to you – but we can give you a better idea of where you may find it.
Units for singles
||Suburb|| Median House Price
|3|| Notting Hill
Units for couples
||Suburb|| Median House Price
|3|| Surrey Hills
Travancore (for singles) and Hawthorn East (for couples) take out the number one suburbs showing that with a unit, you don’t have to move miles from the city centre!
Travancore is home to several parks, a popular cycling trail, and a tram line directly into the CBD. Nestled between the Zoo and Flemington Racecourse, Travancore is in an incredible location at under 6kms from the city centre. With a median unit price of $345,500, it gives residents the opportunity to snap up a unit at a great price, with a quick commute!
For couples, Hawthorn East makes its mark at number one! With leafy streets, a variety of great restaurants, fantastic public transport options and close proximity to the CBD, there’s no wonder Hawthorn East is top of the list.
If being close to Melbourne’s hustle and bustle isn’t for you, don’t worry, there are options further out! Notting Hill and Cranbourne make the top 5 list for singles, and Surrey Hills and Murrumbeena making the top five list for couples.
It just shows that whether you’re single or buying as a couple and either want to be close to the vibrant city or enjoy the peace of the outer suburbs, the right suburb for you is out there!
Are you in the market for your first home? Take a look at our first home buyer journey to help you every step of the way.
The People’s Choice of Housing analyses and assesses data relating to Melbourne suburbs for their serviceability, affordability and liveability. Serviceability includes an assessment of whether a couple on ordinary incomes with average debt and expenditure levels would be likely to receive finance approval for a loan for a median-priced home in each suburb, based on standard industry assessment practices. This assessment looks to a single person’s income where indicated. Affordability looks to the amount left to a borrower after paying for mortgage payments. Liveability assesses a broad range of factors including crime rates relating to each suburb, public transport accessibility and driveability.
Suburbs without median house prices available for the report period are not available for assessment. The People’s Choice of Housing cannot provide individual advice as financial circumstances differ, but does provide an indication of which suburbs or towns may appeal to first homebuyers.
For more information relating to the People’s Choice of Housing, its methodology and interpretation, please email email@example.com.
What your dream house will be? That’s up to you. You can read the full report here.