The Melbourne housing market has not performed as strongly as other capitals over the last few years, but Melbourne’s property values are expected to play catch-up over the next year or two.

Several transitory factors have constrained Melbourne, but its long-term fundamentals remain strong. It has a robust economy, strong population growth tipped to overtake that of Sydney, and significant new infrastructure in the pipeline, making it one of the most liveable cities in the world.

Location

Oxford Economics predicts a more substantial run for Melbourne’s housing market over the next two years. The city’s median house value is forecast to rise by 21 per cent, eclipsing Sydney’s 18 per cent and Brisbane’s 19 per cent expected growth.

• Short distance to Latrobe University, Northland Shopping Centre, and Austin Hospital, which employs over 10,000 staff members.
• Located between the Blue Chip suburbs of Kew & Ivanhoe.
• Cheapest Suburb North of CBD
• Bellfield has become one of Melbourne’s hidden gems, with a median of $980,811 for a house. Director of Jellis Craig North East, Kieran Whaley, says the “family-friendly” suburb has become a desirable alternative to its more expensive neighbour, Ivanhoe, offering proximity to key amenities at a lower price point.