My employer is currently planning to buy another house in Melbourne and his advisor told him that the cheapest Melbourne suburbs is always a good place for first home buyers to start.

Here’s what I’ve got:

REIV figures for the June quarter reveal that the top five most affordable suburbs include Melton South (a median of $190,000 in June), Melton ($202,000), Werribee ($241,000), Meadow Heights ($250,000) and Cranbourne ($255,000). Cranbourne, Wyndham Vale, Broadmeadows, Deer Park and Craigieburn have a median price just under $270,250. HOUSE prices are far more stable this year compared to last year, so buyers are less likely to be priced out of the area they want to buy in. It is a buyer’s market meaning vendors are far more likely to negotiate with prospective customers. The headline median price has dropped since December 2007.

At the same time the tightest rental market in over 25 years provides further incentive to make the move to home ownership as rents are likely to continue to increase.

hey if ur still intrested in buying something close to the city i can help u....im a property investment and first home buyer consultant in melbourne...let me know if you need my help

Hello,
For more clear picture get the advice from some property management professionals of that area, they will provide you more clear picture.

Regards,
sarah_9

http://www.balduscommercial.com/