Ashwood takes top spot for 2017 Melbourne hotspot for units

Ashwood takes the equal top spot as Melbourne's 2016/2017 hotspot for investing in units with an expected increase of six percent over the next 12 months.

The median price at Ashwood is currently $665,000, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.

An example would be a two bedroom unit sold for $700,000 at 2/6 Murra Court, Ashwood, (above) an increase of $35,000 above the median price.

Another similar two bedroom unit was sold for $690,000 at 1/7 Murra Court, Ashwood, (above) an increase of only $25,000 above the median price.

The Smart Investor magazine, published by Fairfax Media, ranked Box Hill South as second best hotspot.

Suburb                Postcode                   Median price                12 month forecast

Ashwood             3147                         $665,000                     6%

Box Hill South      3128                         $645,000                     6%

Beaumaris          3193                          $876,000                     5%

Malvern East      3145                          $515,000                      5%

Black Rock         3193                          $794,000                      5%

Balwyn North     3104                          $1,020,000                    4%

Glen Waverly     3150                          $702,500                       4%

Notting Hill        3168                          $363,000                       4%

Oakleigh           3166                           $550,000                       4%

Sunshine          3020                           $383,500                        3%