The north-west suburb of Roxburgh Park has been named as Melbourne’s most popular suburb for families with children, according to an exclusive report compiled by Australia’s leading mortgage broker, Aussie Home Loans and CoreLogic.
The Aussie/CoreLogic Most Popular Suburbs for Families report found that 76.6 per cent of Roxburgh Park’s homes have families with children, with typical house values at about $551,000, with an entry point below $500,000.
The study took into account census data, median house and unit values, average land area and sales over the 2017 calendar year.
Burnside Heights came a close second with 76.3 per cent of households comprising families with children, with both suburbs featuring lower entry prices, availability of public transport and arterial road connections.
Chief Executive of Aussie, Mr James Symond, said “Almost half of Melbourne’s most popular suburbs are located across the outer west of the city, with nine of the top 20 in this region.
“While Melbourne’s housing prices are high compared with the rest of Australia, the most popular family suburbs are closer to the city centre and are more affordable than Sydney,” he added.
Suburbs within 10km of Melbourne’s GPO generally show lower proportions of family households with children, with Aberfeldie, located 10km from the city centre, the most popular with a median value of $1.48 million.
The least expensive in the top 20 list of popular family suburbs less than 10km from the Melbourne GPO is Bellfield, with a median house value of just over $935,000.
Tim Lawless of CoreLogic said “There is no doubt the distance from the GPO is a key factor in the position of families in Melbourne, as price can be a major barrier closer to the city, however there are pockets of the city which have space, good access to public transport and schools, that are still attractive.
“The quarter acre block is still in Australians’ psyche and families are prepared to make sacrifices in terms of travel times to and from work to enjoy the space that many Melbourne suburbs still provide, while younger single people and couples are opting for higher density living closer to the city,” he concluded.
Download the FREE report at www.aussie.com.au/popularfamilysuburbs.