For decades, homebuyers have been priced out of the market in Melbourne's inner suburbs, but we've got the inside scoop on where to find a house for under $1 million within 10km of the city centre.
A combination of affordability and lifestyle has made suburbs like Brunswick, Coburg, and Thornbury favourites among first-home buyers and families, but what about those who want a house rather than an apartment or townhouse?
According to recent sales data, properties in suburbs like Brunswick East, Kensington, and parts of North Melbourne are selling for under $1 million. These areas offer a mix of period homes, workers' cottages, and modern townhouses, many of which are within walking distance to public transport and local amenities.
One of the most surprising suburbs on the list is Ascot Vale, where a charming three-bedroom house on a 300sqm block recently sold for $935,000. Another suburb that made the cut is Moonee Ponds, where a beautifully renovated two-bedroom house on a 400sqm block sold for $870,000.
Other suburbs within the 10km radius of Melbourne's CBD that offer affordable housing options include Flemington, Footscray, and parts of Yarraville. While these areas may not have the same level of gentrification as some of the more popular inner suburbs, they offer a unique blend of community and culture that's hard to find elsewhere.
So what's driving demand for housing in these areas? According to local real estate agents, it's a combination of factors, including affordability, public transport links, and access to local amenities. Many of the homes in these suburbs are also ripe for renovation, making them a hit with buyers looking to put their own stamp on a property.
Whether you're a first-home buyer, a family looking for more space, or simply looking to upgrade, these suburbs offer a rare opportunity to buy a house for under $1 million near Melbourne's CBD. So why not consider joining the growing number of Melburnians who are making the move to these hidden gems?