Melbourne’s least expensive suburb for housing is also the fastest growing one. This is where an average home takes only 7 days to be sold. As per studies, homes are being snapped up within a week in Millgrove, Melbourne’s most affordable real estate market and also the fastest growing one. The town has seen median home value touching $397, 750 in 2018 till 30th of June, 2018 as per reports. Yet, it continues to be a favourite for residential home buyers, particularly for those looking for homes priced below $400, 000.
There are several other areas where homes are being snapped up fast. As per reports, in Selby, homes take 9 days on an average to be sold and this is 10 days for Badger Creek. Yarra Glen has homes taking around 11 days to be sold off on an average which is the same as the south-eastern suburb of Clyde.
Homes are also being sold within a fortnight in areas like Woori Yallock, Launching Place, Cockatoo, Kallista, Upwey, Yarra Junction, Officer, Cranbourne North and Kurunjang. Skye is also a fast suburb in Melbourne on this count with average home sales taking place in 8 days. This stands at 9 days for Narre Warren and 10 days for Cranbourne. The overall median time taken to sell a home in Melbourne ranges between 28-32 days. Several of Melbourne’s rural areas are witnessing an uptick in overall demand due to the better quality of life, improved connectivity and affordable home prices.
