600k gains in Melbourne by going one train stop further

The REIV analysed median house price gaps in between Melbourne suburbs that were separated by one stop on various train lines, according to REIV president Robyn Waters.

“The REIV analysis showed that the biggest price differential could be found between houses in Heidelberg and Eaglemont, which are just one stop apart on the Hurstbridge train line,” Ms Waters said.

“Canny buyers can also look one stop further down the Glen Waverley line, from Malvern East, serviced by Holmesglen Station, to Mount Waverley, served by Jordanville station, and save around $545,000.

“Similarly, spending a few minutes extra on the train commute between Hawthorn, serviced by Glenferrie station, and Hawthorn East, serviced by Auburn station, on the Alamein Line could nab savings of around $487,500.”

Ms Waters continued, stating that most inner Melbourne suburbs and many middle Melbourne suburbs have median prices of over $1 million, which raises the bar of entry into these particular markets, but as REIV’s analysts suggests, looking to just one suburb down the nearby train line can provide a cheaper price point.

“Often these suburbs are on the cusp of emulating their fancier neighbours’ appeal which generally results in rises in property values over time, such as Richmond, next to South Yarra, where property values have increased over recent years,” Ms Waters said.

The suburbs to look out for, and the savings investors can find, according to the REIV, are:

Line	Station 1	Suburb	Median	Station 2	Suburb	Median	Difference
Hurstbridge	Eaglemont	Eaglemont	$1,725,750	Heidelberg	Heidelberg	$1,057,500	$668,250
Glen Waverley	Holmesglen	Malvern East	$1,760,000	Jordanville	Mount Waverley	$1,215,000	$545,000
Alamein	Glenferrie	Hawthorn	$2,217,500	Auburn	Hawthorn East	$1,730,000	$487,500
Glen Waverley	Tooronga	Malvern	$2,122,500	Gardiner	Glen Iris	$1705,000	$417,500
Craigieburn	Strathmore	Strathmore	$1,242,500	Pascoe Vale	Pascoe Vale	$840,000	$402,500
Sandringham	Windsor	Windsor	$1,400,000	Balaclava	Balaclava	$1,005,000	$395,000
Mernda	Thornbury	Thornbury	$1,297,500	Bell	Preston	$921,000	$376,500
Frankston	Carrum	Carrum	$1,002,500	Seaford	Seaford	$675,250	$327,250
Hurstbridge	Alphington	Alphington	$1,725,000	Darebin	Ivanhoe	$1,400,000	$325,000
Frankston	Patterson	Bentleigh	$1,297,500	Moorabbin	Moorabbin	$975,000	$317,000 You need to be a member to post comments. Become a member for free today! Comments powered by CComment Related articles Author Sasha Karen Know more More from this writer: Where to find winners in the WA market How rents have performed for investors so far this year How to save money with a new repayment strategy Popular capital cities on the rise as market softens over June Cash rate call for July 2019 revealed New property sales rebound over May How far can a $500,000 budget get you in Sydney?