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.
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