Melbourne's most affordable and liveable suburbs

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Australian homebuyers who are looking to break into the housing market by buying units instead of houses should consider looking at Melbourne's most affordable and liveable suburbs, according to a new study by People's Choice Credit Union.

The study listed 20 suburbs in Melbourne that offer affordable units and exhibit a high level of liveability, People's Choice CEO Steve Laidlaw said. The study assessed each suburb's liveability to capture the aspects that determine whether people would actually want to live in a particular place.

Also read: Sydney And Melbourne On The Rebound?

According to the list, the most sought-after suburb in Melbourne is Hawthorn East. It has a median unit price of $610,000. While this suburb is not the cheapest in the list, it ranked high in terms of liveability.

Murrumbeena placed second in the overall list and is amongst the most affordable. Its median price sits at $490,000. In terms of liveability, Murrumbeena ranked 13th.

Third in the overall list is Surrey Hills, which hit the top spot in the liveability index. Units in this suburb have a median unit price of $727,000.

"The thing that brings these suburbs together is liveability. These suburbs are relatively close to the city, close to employment hubs, have low crime rates and reasonable-to-good public transport," Laidlaw said.

The table below lists the most affordable and liveable suburbs in Melbourne for units and their corresponding median unit prices and liveability index ranks:

Most affordable and liveable suburbs in Melbourne for units

Overall Rank

Suburb

Median Unit Price

Liveability Rank

1

Hawthorn East

$610,000

3

2

Murrumbeena

$490,500

15

3

Surrey Hills

$727,000

1

4

Glen Iris

$630,000

4

5

Hawthorn

$500,000

20

6

Avondale Heights

$520,000

18

7

Mont Albert

$750,000

2

8

Elsternwick

$602,500

10

9

St. Kilda East

$550,175

13

10

Caulfield North

$620,000

9

11

Montmorency

$629,500

7

12

Ormond

$667,000

6

13

Pascoe Vale South

$519,000

33

14

McKinnon

$690,385

5

15

Glen Huntly

$545,000

31

16

Kingsville

$393,500

71

17

Hughesdale

$658,500

11

18

Caulfield South

$695,000

8

19

Brunswick West

$460,500

60

20

Williamstown

$517,000

45

Source: People’s Choice, CoreLogic

Top Suburbs : tweed heads south , geelong west , mortdale , rockville , newcastle

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