Melbourne’s Most Livable & Affordable Suburbs According to Experts
The biggest cities in Australia have always been the most popular choices for homebuyers whether for first-timers or not. However, things have changed so much for the past several years. The suburb is a residential district that is found on a city’s outskirts. It is normally less busy or chaotic because the population is not as congested as urban areas, which means establishments are not as plentiful in the suburbs. If you live in the suburbs, chances are, you will need to travel to the city for work. Not everyone likes long hours of traveling every single day but looks like, there are certain suburbs that are just as livable as the urban areas especially for the working class.
A recent study focused on the different suburbs of the three major cities such as Sydney, Melbourne, and Greater Brisbane and selected the ones that prospective homebuyers will find as livable. The study conducted showed results by rating each of the suburbs based on their capacity to provide the residents with the quality of life.
Melbourne house prices are currently increasing, which makes it a little bit more challenging for homebuyers. Fortunately, suburb areas have become more attractive to a lot of prospective buyers because of these reasons: affordability, walkability, and the overall accessibility to jobs and schools.
A series of indicators were used to make this list. The indicators are “access to cafes, schools, public transport and employment were among the factors examined in the study, as well as traffic congestion, a suburb’s crime rate, its walkability, open space, tree cover and proximity to the coast or beach.”
Here are the most livable suburbs according to a study conducted by Deloitte Access Economics and Tract Consultants.
1 South Yarra
2 East Melbourne
4 Fitzroy North
8 Carlton North
According to experts, suburbs that are high in the livability ranking have a wider range of amenities. And we all know that amenities are highly attractive to a lot of prospective buyers and residents alike. There are also trade-offs in livability. It could potentially create an impact on traffic congestion and crime rate, which are two things that people should be aware of before making the huge decision.
A list of most affordable suburbs was also released. Here are the suburbs that made the cut.
In terms of the least expensive, Dandenong ranked first which means, among the 307 suburbs in Melbourne, it got the highest livability ranking – making it the least expensive and the most livable among the bunch. The study revealed that the median house price in Dandenong is $555,000. Overall in Australia, it ranked 143 in terms of affordability while 40th in the walkability factor and 60th (retail) and 75th (transport) in the accessibility factor.
Other suburbs that are included in the list are Frankston in the south, Altona, Sunshine and West Footscray in the west, and Coburg North, Preston and Oak Park in the north. Nunawanding came in last with a median house price of $855,000 and ranked 75 in the livability ranking.