LD Total's top tips for maintaining your new garden
Industry NewsLD Total's top tips for maintaining your new garden
The latest CoreLogic Hedonic Home Value Index, released on August 1, shows Melbourne’s housing market experienced an annual growth in dwelling values of 4.0%.
The median house price in Melbourne is now $923,881 and the median unit price is sitting at $603,829, according to CoreLogic. After booming through 2020 and 2021, Melbourne housing values fell 9.1% from their peak in February 2022.
But now the Melbourne housing market has clearly turned the corner with all major research houses showing an uptick in Melbourne house prices over the past 6 months. This creates a window of opportunity to get into the property market as the Melbourne market picks up again.
Located 48km south-east of the Melbourne CBD, Officer has a lot of pull when it comes to property buyers.
As well as its close proximity to the train line and Princes Freeway, Officer has been popular because of its affordability and the fact that it’s a constant performer.
Realestate.com.au data shows the median sold price for houses over the past year is $702,500, up 2.7% over the previous 12 months. On the rental front, houses in Officer are attracting rents of around $480 a week, up 9.1% over the previous 12 months, and a rental yield of 3.7%.
Satterley’s popular masterplanned community, Arcadia, located in Officer, includes three new schools, a childcare centre and not to mention the mind-blowing Dragon Park playground.
In Melbourne’s outer western suburbs, Caroline Springs has seen a notable rise in its property market. According to Realestate.com.au data, the median property price for houses over the past year stands at $730,000.
Furthermore, Caroline Springs enjoys a rental yield of 3.4%, with houses renting for around $450 a week, up 4.7% over the previous 12 months.
Long used as agricultural grazing land, Tarneit has seen a major shift in its demographic thanks to urban sprawl with residential subdivision starting 30 years ago.
Situated 24km west of the Melbourne CBD, the well-positioned suburb has seen an influx of new housing developments, including Satterley’s Bluestone estate.
The estate features over 13 hectares of open space, as well as a comfortable 40-minute commute to the CBD from nearby Tarneit Train Station.
Realestate.com.au data shows the median property price over the past year is $651,000 for houses, up 1.7% over the previous 12 months. The suburb also offers solid rental returns of around 3.7% with the median weekly rent around $450, up 14.6% over the past 12 months.
Tarneit recorded a population of 34,562 at the 2016 Census and there are estimates more than 63,000 will call the suburb home by 2031.
Considered a true hidden gem by some, St Helena is a small leafy suburb located 26km north-east of the Melbourne CBD.
Surrounded by generous open spaces, the established suburb provides easy access to excellent schools and transport options. Categorised by small cul-de-sacs and crescents, the neighbourhood boasts plenty of parks, playgrounds and ovals within easy walking distance.
Realestate.com.au data shows the median sold price over the past year is $1,180,000 for houses.
Satterley’s St Helena Place estate, launched in February 2022, promises to offer a boutique residential community surrounded by fully rejuvenated wetlands – an exclusive “hidden oasis” within the larger and more well-known Greensborough area.
With an established community, Melton South has grown from rural roots and compliments the satellite city of Melton, which is well serviced by rail, a variety of schools and a campus of Victoria University.
Located 37km west of Melbourne, the suburb shows a median house price of $490,000, according to realestate.com.au data.
The rental yield is around 3.8%, with houses attracting about $370 a week, up 8.8% over the previous 12 months.
Regarded as one of Melbourne’s fastest growing suburbs over the last 20 years, Pakenham has seen a substantial increase of new residential development and infrastructure and its population is only expected to continue increasing.
Located 54km south-east of the CBD, Pakenham is an established suburb with access to great schools, shops, and direct transport links into the city.
Realestate.com.au data shows the median property price over the past year is $631,000 for houses, while the rental yield stands at 3.7% with a median weekly rent of $450, up 12.5% over the previous 12 months.
Satterley’s new Maple Grove estate, launching soon in Pakenham East, is set to be a popular option for homebuyers looking to move into the established suburb.
Located 21km north of Melbourne and just 10 minutes’ drive to Melbourne Airport, Greenvale has been praised for its perfect position.
A hugely popular suburb, which has seen incredible demand for Satterley’s True North community, Greenvale has experienced solid growth in recent months.
Realestate.com.au data shows the median sold price over the past year is $857,000 for houses.
On the rental front, the suburb averages a rental return of 3.6% and a median rent of $520 a week, up 10.6% over the previous 12 months.
Alluring for both families and investors, Mickleham in Melbourne’s north, is a favourable option for real estate not least because of its steady price growth, but attractive rental returns.
Realestate.com.au data shows the median sold price over the past year is $675,500 for houses.
The suburb is also an attractive proposition for investors with average rental returns of around 3.7% and weekly rents of $450, up 7.1% over the previous 12 months.
Mickleham is forecast to see a significant boost in the number of dwellings from 1090 in 2016 to 8221 in 2026.
Satterley’s Botanical estate, 29km from the Melbourne CBD, promises over 30ha of planned open space, including a 22ha Botanical Park with wetlands, a playground and botanical themed gardens.
For commuters, Botanical has easy access to the Tullamarine Freeway and Donnybrook railway station, with a 45-minute train ride to the city.
Head 36km south-east on the Nepean Highway and you’ll find Seaford, a bayside beauty.
According to realestate.com.au, the median house value stands at $800,000. Investors may also see opportunity in Seaford with rent going for $510 a week, up 8.5% over the previous 12 months, with an average rental return of 3.3%.
As well as the bayside lifestyle, there is Kananook Creek and the Seaford Wetlands, a 305ha nature reserve listed on the Register of the National Estate, which is home to a variety of bird life including several rare and endangered migratory species.
Just 32km north of the Melbourne CBD you’ll find Donnybrook, a suburb that is set to experience tremendous population growth. Formerly used as grazing paddocks and farmland, Donnybrook is a relatively new suburb that has been rezoned for residential use.
New families have been attracted to the area due to its great location, with convenient access to nearby Craigieburn Central Shopping Centre and transport options via Hume Freeway and Donnybrook Railway Station.
Realestate.com.au data shows the median sold price over the past year is $667,000 for houses, up 2.1% over the previous 12 months.
Rental values are also attractive in the area, with houses averaging a 3.7% rental yield and a median rent of $460 a week, up 9.5% over the previous 12 months.