Mak­ing dreams re­al­ity

Herald Sun - Property - - NEWS - JOR­DAN MAR­SHALL

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.

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