Victorians looking to buy property in the next 12 months are flocking to inner city Melbourne and surrounding suburbs for their first home or their next property.
More than 23% of Victorians, who are planning to buy a property within the next 12 months, cite a home in the Melbourne City as their top pick, according to the latest Commonwealth Bank / Mortgage & Finance Association of Australia Home Finance Index.
The most popular Melbourne locations include Carlton, Carlton North, Docklands, East Melbourne, Flemington, Jolimont, Kensington, Melbourne, North Melbourne, Port Melbourne, Parkville, Southbank, South Wharf and West Melbourne.
Melbourne City is followed in popularity by other inner-city suburbs Yarraville and Brunswick – favoured by 8% of respondents. Both suburbs are served by train lines and are less than 8km from the CBD.
Surrey Hills and industrial Footscray are favored by 6% of Victorian house hunters, while South Yarra, Coburg, Northcote and Geelong were each cited by 5% of respondents as potential areas to buy.
Frankston, Blackburn, Thornbury, Dandenong, Reservoir, Ballarat and Keilor all rank equally among 4% of respondents.
Where are you planning to invest in Victoria over the next 12 months? Join the debate in our comments section below
Do you have more than $120k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out