Melbourne's 10 hidden gem suburbs cheaper than their more popular pricier neighbours

Berwick is one of Melbourne’s most popular suburbs but if it’s out of your price range you could consider travelling just 12 kilometres down the road to Cranbourne North where the average house price is 26% cheaper.

Westpac has compiled a list of ten Melbourne suburbs where it’s cheaper to buy than in their more popular neighbouring suburbs.

The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price.

“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” said Westpac’s Gai McGrath.

Cremorne, nestled between Richmond and the Yarra is presented as a more affordable alternative to South Yarra. House prices there are 29.8% cheaper. Though if you’re looking at units Burnley is a better option with a saving of 26.7%.

And Ripponlea house prices are 57.5% cheaper than in Brighton. Gardenvale units are 49.3% cheaper than Brighton units.

If you wanted to buy a unit in the fourth most popular suburb in Melbourne, Toorak, you could consider travelling just three kilometres down the road to Armadale where the average unit price is 33% cheaper. According to Westpac you could own your home 17 years and one month sooner and save $247,681 in purchase price and $225,613 in interest repayments over time.