3 Melbourne Suburbs Under $650K

💰 3 Melbourne Suburbs Under $650K

These 3 Affordable Suburbs Are Outperforming Expectations 📈

Despite the headlines shouting unaffordability, smart buyers are still finding opportunity in Melbourne’s market. We’ve uncovered 3 suburbs where median prices sit under $650,000 🚀.

🏡 Werribee 
Affordable, accessible, and just far enough to offer value without losing city convenience.

🏠 Melton 
One of Melbourne’s most budget-friendly buys, with performance to match. Think Brisbane prices a few years ago!

🏙️ Broadmeadows 
Close to the city with strong rental demand and low vacancy rates.

🔍 With supply tight, investor interest returning, and strong owner-occupier demand, these suburbs could see even more growth ahead.

📞 Ready to explore your options?
Let’s talk strategy. Book a free discovery call today and start building long-term wealth through smart property investment 💼🏘️

Chapters

• 0:00 Episode Introduction
• 0:48 Werribee: Western Melbourne Option
• 1:35 Melton: Under $500K Opportunity
• 2:12 Broadmeadows: Close to CBD
• 3:19 Call to Action & Closing

Transcript

Speaker 1: 0:00

Welcome back to another episode of the Taylor Property Wealth Podcast. My name is Casey Taylor and in today's episode we are talking about three Melbourne suburbs under $650,000 and the price growth of these suburbs range from 0% to 0.1% in the last 12 months and distance to CBD is from 50 kilometers all the way through to kilometers. Last week we did affordable suburbs within Brisbane, so make sure you go and check that one out. But we're talking about affordable suburbs in Melbourne. Everyone's talking about how unaffordable property is right now, but the reality is, if you're open minded, you're not looking just in your own backyard. There's plenty of options out there that are still affordable. Let's get straight into it, with the first suburb being Werribee. Now, werribee is located in Western Melbourne. Distance to CBD is 30 kilometers Now. The median value of Werribee is $641,000. Price growth in the last 12 months is a big 1% and the vacancy rate, as per SQM research in May 2025, 1.9%. So that's a super affordable location that you can get into in a metro location. Owner-occupied investment, whatever it is, it's not going to massively break the bank and there's still opportunities under that median value within that suburb, so very affordable.

Speaker 1: 1:35

Moving on to the next location and suburb of melton, western melbourne as well. Now the distance to the CBD is 37 kilometers and the median value is $497,000. So that's under $500,000 and in 2025 that is really, really affordable. That was locations that you could purchase in Brisbane, say, two to three years ago, so there is value there. Price growth in the last 12 months is 3.9% and the vacancy rate as per SQM research in May 2025, 2.1%. So some still strong vacancy rates. There's definitely lower vacancy rates out there in other locations, but that is still a strong market in terms of vacancy rates and my belief is because there's so much restriction within Melbourne at the moment, it's actually going to create those vacancy rates to become lower because there's going to be less investors and there are investors starting to come back to Melbourne. However, there is a lot of owner occupiers as well.

Speaker 1: 2:52

Third and final, suburb Broadmeadows. Now it is North Melbourne, roughly 15 kilometers to the CBD. So that's a pretty short distance to the CBD for price point and the median value is $599,000. Price growth in the last 12 months 2.9% and the vacancy rate as of May 2025, 1.3%. So tightly held from a vacancy rate perspective. Nice, short, sharp one today. Three affordable locations in the melbourne property market. If you're looking to invest and you don't know where to start, reach out to us. Let's have a chat and see if there's an opportunity to be able to help you execute on your property goals. We can discuss through a discovery call if you qualify to be one of the limited clients that we work with each month and then we can go out and help execute on your property goals, help you build your wealth and create financial freedom long term. Thanks for listening. See you on the next episode.