With a median house price at $826,000, Melbourne can be a pricey market to buy into, but one investment service claims Greenvale is overlooked, offering homes for under $500,000 and is 20 kilometres from Melbourne’s CBD.
Greenvale has a great deal to offer investors, according to OpenCorp’s director, Allister Lewison, offering the convenience of close proximity to the Melbourne CBD, while also having established amenities, such as retail centres, primary schools and preschools.
“Greenvale has long been one of Melbourne’s most overlooked suburbs by buyers despite experiencing stable growth and offering an established neighbourhood,” Mr Lewison said.
“With house prices growing at an unprecedented rate, buyers are expanding their search and looking into new suburbs. Greenvale is attracting a lot of attention as it is the closest suburb from Melbourne’s CBD that is both affordable and established.”
Located in the Hume Council area, Greenvale is said to be strongest performing suburb in the area, with 10.78 per cent house price growth over the financial year 2016-17.
As testament to the suburb’s success, OpenCorp launched their Umbra development in 2015 and is currently going through its stage three of sales, selling a total of 310 lots in March 2017.