The two bedroom house option - Melbourne suburb guide

The two bedroom house option - Melbourne suburb guide
The two bedroom house option - Melbourne suburb guide

New REIV data reveals it is still possible for buyers to purchase homes in million dollar suburbs for less than seven-figures – as two-bedroom homes offer an entry point across Melbourne with savings of more than $500,000. 

For $929,000 buyers can secure a two-bedroom home in Elsternwick - almost $650,000 less than the suburb’s overall median house price of $1.5 million. 

Ivanhoe buyers can secure a smaller home for about $475,000 less than the overall median house price in the suburb.

Buyers can also purchase smaller homes in Essendon, Moonee Ponds and Caulfield South for about $400,000 less than the suburb median. 

REIV CEO Geoff White said two-bedroom homes offer a more affordable option in many of Melbourne’s most desirable suburbs. 

“These are leafy suburbs where buyers can live alongside their million-dollar neighbours on a boutique budget,” he said.

He added two-bedroom homes are experiencing solid price growth in many of these suburbs.

 

 

 

 

Suburb

IMO

Median House Price (June 16)

2-Bedroom Median Price (June 16)

Price Differential 

Elsternwick

inner

$1,577,500

$929,000

-$648,500

IVANHOE

inner

$1,395,000

$921,000

-$474,000

ESSENDON

inner

$1,377,000

$912,000

-$465,000

MOONEE PONDS

inner

$1,265,000

$820,000

-$445,000

Caulfield South

inner

$1,388,000

$946,500

-$441,500

PORT MELBOURNE

inner

$1,380,000

$955,000

-$425,000

ASCOT VALE

inner

$1,141,000

$800,000

-$341,000

WILLIAMSTOWN

inner

$1,155,000

$815,000

-$340,000

RICHMOND

inner

$1,222,500

$970,500

-$252,000

ST KILDA

inner

$1,190,000

$976,000

-$214,000

Property Observer found this two bedroom home in Elsternwick, 30 Ross Street (below), on the market for between $900,000 and $990,000

The two bedroom house option - Melbourne suburb guide

Property Observer found a two bedroom home in Ivanhoe, 24 Dalveen Road (below).

The two bedroom house option - Melbourne suburb guide

 

 

Tags: 
Ivanhoe Housing Market

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