Melbourne, Australia
Property insights and suburb guides
Comprehensive 2026 buyer’s briefing for Melbourne (Greater Melbourne). Learn about recent price trends, suburbs to watch (inner, middle-ring, bayside, growth corridors), transport projects (Metro Tunnel, Suburban Rail Loop), lifestyle highlights, school and amenity anchors, and practical buyer tips for owner-occupiers and investors.
Tips for Buyers
- 1.Define your objective (owner‑occupier, yield investor or capital growth investor) before selecting suburbs.
- 2.Prioritise proximity to frequent public transport or confirmed infrastructure projects for price resilience.
- 3.Check suburb‑level supply indicators: vacancy rate, number of new projects/off‑the‑plan developments and recent sales velocity.
- 4.Model worst‑case interest rate and vacancy scenarios for investment properties; factor in Victorian tax settings.
- 5.Consider a buyers’ agent for auctions or hot suburbs and secure finance pre‑approval before bidding.
Common Property Types
- • Detached houses (inner & middle ring) — long‑term capital preservation
- • Townhouses / low‑rise multi (good middle‑ring alternatives)
- • Units / apartments (CBD and inner city) — rental demand strong in some precincts, but watch oversupply
- • New‑build family homes (outer growth corridors) — affordability and volume growth potential
Who Lives Here
Greater Melbourne: population ~5.35M (June 2024 ABS); strong post‑pandemic net migration driving population growth in 2023–25 and supporting long‑term housing demand.
Transport
- • Extensive tram network (largest by route length) and suburban rail network (Metro + V/Line).
- • Major projects: Metro Tunnel (capacity and CBD access), Suburban Rail Loop (long‑term orbital link), West Gate Tunnel and level crossing removals, planned Melbourne Airport Rail.
- • Myki public transport ticketing; major freeways include Monash, Eastlink, West Gate/Frew.
- • Properties close to frequent train stations or main tram routes typically command premiums.
Schools
- • University of Melbourne (Parkville)
- • Monash University (Clayton and other campuses)
- • RMIT University (CBD)
- • Notable independent schools in the region include Scotch College (Hawthorn area) and Melbourne Grammar School (South Yarra area) — buyers should confirm catchment and entry requirements for specific local schools.
Amenities
- • Royal Botanic Gardens and Yarra River precinct
- • Bayside beaches: St Kilda, Brighton
- • MCG and major sporting and events calendar
- • Strong café, restaurant and laneway culture in inner suburbs
Positive medium‑term outlook supported by returning migration, infrastructure projects and tight rental markets. Expect mid‑single digit growth in 2026 per several forecasters, but monitor interest‑rate sensitivity, state policy changes and apartment supply risks. Favour well‑located houses and low‑rise stock for more defensive capital growth; outer corridors offer higher percentage upside but require longer holds and careful review of infrastructure delivery.
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