Investing in Melbourne’s Western Suburbs: Your Guide to Affordable and Promising Properties
Caroline Springs: A Rising Star
Caroline Springs is making waves with its rising property market. The median house price here is $730,000, with rental yields at 3.4%. Houses rent for around $450 a week, up 4.7% over the past year.
Check out Caroline Springs houses for sale.
Point Cook: Affordable and Convenient
Point Cook offers affordability without compromising on amenities. The median house price is $489,000, with a rental yield of 4.3%. Housing options include houses, townhouses, and apartments, all close to the water and excellent transport links.
See Point Cook houses for sale.
Hoppers Crossing: Suburban Charm and Affordability
Hoppers Crossing offers suburban charm with city accessibility. Just 23 kilometres from Melbourne’s heart, it has a median house price of $611,000 and a median unit price of $440,000. Houses typically rent for $400 per week, with a rental yield of 3.6%, while units fetch $367 per week, offering a yield of 4.5%.
Check out Hoppers Crossing houses for sale.
Tarneit: A Growing Community
Tarneit has transformed remarkably over the years. The median house price is $651,000, with a rental yield around 3.7%. Weekly rents are approximately $450.
Check out Tarneit houses for sale.
Melton: Affordable and Accessible
Melton is one of the most affordable areas in metro Melbourne, with median house prices at $465,000 and units at $372,000. Houses rent for $320 per week, offering a rental yield of 4.0%, while units rent for $337 per week, with a yield of 4.6%.
See Melton houses for sale.
Melton South: A Growing Satellite City
Melton South, located 37 kilometres west of Melbourne, has a median house price of $490,000. The rental yield is around 3.8%, with houses renting for about $370 a week.
See Melton South houses for sale.
Coolaroo: Affordable and Family-Friendly
Coolaroo is another affordable suburb, with a median house price of $520,071. It’s a great option for families and first-time buyers, offering vibrant communities and ample green spaces.
Check out Coolaroo houses for sale.
Sunshine: A Market to Watch
Sunshine is another hot spot in Melbourne’s west. Last month, Sunshine had 43 properties available for rent and 82 properties for sale. Median property prices over the last year range from $805,000 for houses to $480,000 for units. Houses in Sunshine rent out for $475 per week with an annual rental yield of 3.2%, and units rent for $390 per week with a yield of 5.3%. However, the suburb has seen an annual compound growth rate of -1.8% for houses and -9.4% for units.
See Sunshine houses for sale.
Why Choose the Western Suburbs?
Community Growth: The western suburbs are growing rapidly with new infrastructure, schools, and amenities enhancing livability. These areas are vibrant communities with green spaces and family-friendly facilities.
Investment Potential: Melbourne’s western and northwestern suburbs are growth corridors with strong long-term prospects. The considerable housing development in these areas supports demand and real estate values.
Connectivity and Convenient Location: Suburbs in Melbourne’s west are well-connected to transportation, making it convenient for residents to commute to the CBD, Tullamarine Airport, and local shops.
Create Real Estate is dedicated to helping you find the right investment opportunities in Melbourne’s housing market. As Sunshine locals, we know the property market inside and out and are passionate about helping you succeed. Whether you’re a seasoned investor or just starting, we offer personalised advice to help you make the best decisions. Visit us at Create Real Estate to learn more about our services and see our current listings.
For more insights, visit our blog. Looking to buy or rent? Check out our listings for sale and rentals. Meet our dedicated team ready to assist you in every step of your investment journey.