Melbourne, a city known for its laneways and pumping nightlife, is constantly buzzing with events and tourists.
But with the city’s population growing rapidly, housing is becoming more expensive. High property prices seem unlikely to decline anytime soon and it’s becoming harder for first-home buyers to save for a deposit, unless you join the growing trend of buying with your parents.
Long journeys to work or university can grow tedious, but there are a few suburbs where you can still rent a decent home within a reasonable budget and be close enough to the city that you don’t have to stand for an hour on a packed train.
Stephen Fitzsimon, head of business development at Melbourne Real Estate in South Yarra, told The Newsroom: “The west is your best bet with Footscray and Maidstone the top affordable [locations] near Melbourne. A two-bedroom is around $300 a week, and for a three-bedroom it’s $350 a week.”
Maidstone is eight kilometres from the CBD and has been ranked eighth best suburb in Melbourne. It’s proving to be a suburb with high market demand. In the past 12 months, 128 properties have been sold in this area. In comparison, Footscray is slightly more expensive. The suburb is just 6.5 kilometres from the CBD and a two-bedroom rental averages about $360 a week, a three-bedroom $420.
The suburbs offer different amenity so it depends on preference and what you’re after. If you prefer cultural dining and a slightly younger, hipster atmosphere you might want to opt for Footscray. Maidstone would be a better choice if you want to be closer to schools, parks and of course Highpoint Shopping Centre. This is a favourite amongst growing families and investors.
First National Real Estate managing director Dario Haljeta says the demand for Maidstone has been very high this year; he calls the suburb a hidden gem. “It is close to the CBD, fully established, has public schools and with the council allowing more subdivisions, many houses are being built,” he told The Newsroom. – Suzanne Masri
Top photo from Maidstone Melbourne Facebook page.