By BEN CAMERON
CRANBOURNE is Melbourne’s third most affordable suburb, according to estimates from the Real Estate Institute of Victoria.
Figures from the State Revenue Office of Victoria reveal the 3977 postcode – which includes Cranbourne, Devon Meadows and Skye – topped the list for the state for first home owner grant applications, with 200 according to State Revenue Office of Victoria data.
The postcode 3978, which takes in Cardinia, Clyde and Clyde North, and the Pakenham area came in equal seventh with 58 applications.
REIV spokesperson Paul Bird said Cranbourne’s median house price had increased 6.5 per cent in the past 12 months.
“Pakenham and Cranbourne are certainly two of the top growth areas in Melbourne, “ he said.
“There is certainly strong housing growth right across Melbourne’s south-east … with the median price for homes in Cranbourne growing by two per cent in the three months to 30 June, and 6.5 per cent in the past 12 months.
“The number of first home buyers is high, but reflects the attractions of Melbourne’s south-east. It has good access to public transport and road links in to Melbourne, is surrounded by terrific local communities and is close to stunning farming, state forest and coastal areas.
“Home prices are also highly affordable, with the median price for Cranbourne, $323,750, making it the third most affordable suburb in Melbourne, behind Melton West and Werribee.”
