Making dreams reality
WHEN it comes to the great Australian dream of a family house in the suburbs, Victorians are starting from the ground up more than anyone else in the country.
A new study by the REA Group has found six out of the top 10 most-searched suburbs for house and land packages are in Melbourne.
“According to the Australian Bureau of Statistics data, Melbourne continues to dominate housing approvals,” REA Group chief economist Nerida Conisbee said.
“The high number of approvals taking place is providing a lot of options for potential house and land package purchasers.”
In total, 24,474 houses were approved in Melbourne in the year to February compared with 16,797 in Perth and 16,157 in Sydney.
Berwick ranked as the most searched suburb in the country for house and land packages in the first quarter of this year.
Melbourne’s outer north also proved popular, with Epping the fourth most searched suburb across the nation, followed by Craigieburn in fifth place, Tarneit at sixth, Keysborough at ninth and Cranbourne at 10th.
In terms of individual developments, Kaya in Hampton Park was the most searched in Victoria. It was followed by Heathwood in Heathmont, Featherbrook in Point Cook and Craigieburn’s Aston and Highlands estates.
“The popularity of communities is consistent with findings from another study recently undertaken by the REA Group that found the ideal house was located close to shopping, schools and transport,” Ms Conisbee said.
“Most of the popular estates rate well on these criteria.”
Stockland regional manager David Allington said building a new home was an affordable way to buy a first property.
He said Stockland’s awardwinning Highlands estate offered three-bedroom, twobathroom homes from $321,240 in an established community with child care, schools, shopping, parks, sports facilities and infrastructure in place.
“Building a new home is also the best way to ensure you are getting the house that is just right for you and your family,” Mr Allington said.
“You can have a checklist of what you need and what you want and then go ahead and build your ideal home.”
Victorians’ love of new properties was also shown in a recent Housing Industry Association study. Its latest population and residential building hot spots report showed six of the top 20 boom areas were in Victoria.
Cranbourne East came in second place nationally with $328,665,000 worth of residential building approved and population growth of 32 per cent in the 2014/15 financial year. Truganina was the next highest Victorian suburb, ranked at number nine nationally with a spend of $200,530,000 and population growth of 14.7 per cent.
Beaconsfield-Officer (11th, $149,618,000, 14 per cent), Epping (16th, $239,814,000, 9.3 per cent), Docklands (18th, $553,886,000, 8.8 per cent) and Melbourne (19th, $1,109,921, 8.3 per cent) also made the list.