Melton ranked as the quickest FHB path to house ownership in Greater Melbourne: Domain

Entry level home buyers in Greater Melbourne experienced jump in the time taken to save for a house, adding an extra eight months from last year according to a report released this week by Domain. 

"This is likely an impact of the influx of first home buyers increasing demand at the lower end of the market since the Victorian government abolished stamp duty for first home buyers, an increase of 37 per cent compared to last year”, stated the report 

“Those looking to purchase quickly can look to areas like Melton, where the entry house price is $424,000 and the time to save a deposit is 4.3 years."

There was a indicative sale at 3 Cassia Road, Melton (pictured below), a three bedroom, two bathroom house, which sold for $448,000 last month.

"For house hunters looking to be closer to the CBD, areas like Maribyrnong, approximately nine kilometres from Melbourne’s CBD, are a strong option with unit entry prices at $360,000 and a time to save of 3.7 years."