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Real Estate in Victoria: A Basic Guide for a Family Home

June 29, 2021

Home to 6.681 million people, the state of Victoria has the second largest population of all six states in Australia.

This is despite having the smallest landmass compared to the other states.

36% of forest covers the vastly modernised state that is home to alpine towns, world-class wineries and attractive coastal communities.

Real estate in Victoria comprises a variety of suburbs; from lively student-inhabited areas to laidback regions for families and retirees.

The serene atmosphere and exciting communities make Victoria a great place to search for your next family home.

Whichever part of Victoria you choose to live in and whatever your housing needs are, Listing Loop can help you achieve them. Sign up today and make the process of finding the perfect family home as simple as possible.

Best Suburbs for Family Living

A recent national survey by CoreLogic revealed that 31% of the top 100 family-friendly suburbs in Australia are in Melbourne.

The top 10 family-friendly metropolitan suburbs include three Victorian suburbs - Diamond Creek, Taylor Lakes, and Cockatoo.

Four Victorian suburbs - Bacchus Marsh, Leongatha, Wallan, and Warragul - are in the top 10 regional suburbs.

Here is a breakdown of the cities with the “top 100 suburbs for family living”.

City Percentage
Melbourne 31%
Brisbane 22%
Sydney 21%
Adelaide 12%
Hobart 9%
Perth 4%
Darwin 1%

Though many families would prefer to live near the beach or the city, suburbs situated in the centre of outer rings of cities are more suitable for a family home.

Such suburbs tend to offer more inexpensive housing options on larger home sites that allow more space for growth.

Suppose you envisage a large kitchen for family gatherings, siblings sharing bedrooms, or even a family pet. You want to have a space that is not only comfortable and useful today, but also in the next 10 years.

According to CoreLogic, the top factors buyers consider in a family home include:

  • Size of the house and block
  • Number of bedrooms
  • Secure parking, garage or gated driveway
  • Room to play (backyard, entertainment area or a family room)
  • Affordability

The 20-minute rule in location also applies - no matter where you live, you should access important amenities within 20 minutes.

With that in mind, Melbourne is the best city in Victoria to consider for the best family living.

Further afield from Melbourne, regional cities and towns such as Geelong, Torquay, and Wodonga offer great communities with spacious properties at reasonable prices.

Related: What are Victoria’s most affordable suburbs?

Melbourne

Introducing Melbourne’s 12 new suburbs

Whereas the variables between suburbs are huge, the suburbs in Melbourne's west and north offer buyers the biggest return on their investment.

The most affordable options within a 10km radius of the CBD have a median house price of between $723,500 and $855,000.

Melbourne's west and northern suburbs are more affordable than options 10kms south east of central Melbourne. For example, the median house price in the beachside suburb of Brighton in the southeast is $2.65 million.

However, families looking for a desirable safe environment tend to prefer the south-eastern suburbs of Melbourne. This is because the coveted location boasts many amenities including leafy streets and parks within walking distance of residences.

Whether it’s the big section of walking space near Gardiners Creek in Glen Iris or bowling and water recreation in Caulfield Park, each neighbourhood offers something unique.

If you like spending time on the greens, the suburb of Camberwell is adjacent to a big golf course as well as cinemas, retail outlets and eateries.

Southeast Melbourne is also the ideal destination for wealthy families thanks to the larger homes and low crime rate.

As more people leave the inner city in search of more affordable housing, Mornington Peninsula on the southern fringe of Melbourne's metro area is another preferred destination for buyers. Home prices in the area range from $500,000 to $1.5 million.

If schools are important to you, Better Education ranks Melbourne suburbs based on their education profile. Balwyn and Glen Iris are two of the top rated neighbourhoods when it comes to education in the area.

Related: Introducing Melbourne’s 12 new suburbs

Dandenong North

Dandenong North is a peaceful suburb 29 kilometres southeast from Melbourne. Same as its neighbour Dandenong South, Dandenong North is home to one of the largest immigrant populations in Australia.

The community comprises immigrants from Afghanistan, Bosnia, Albania, Turkey, Sri Lanka, and China.

Dandenong North homes are only a short distance from modern conveniences and amenities such as:

School-aged children living in the area get their education from exemplary public and private schools nearby. There’s even a TAFE as well as a Deakin University campus for degree or certification-seeking residents.

Many suburbs in Dandenong North such as Rosewood Down are considered high demand but low supply. Complete with a host of incredible features and upgrades, many houses in the area were built in the 1970s.

Commuting to work, school or the outlying areas is easy thanks to low to average traffic and easy access to the M1 and Eastlink freeways.

Geelong

Geelong is a peaceful bayside city located 75 km south west of Melbourne. A community atmosphere and easy commutes to Melbourne thanks to fast train services make Geelong an attractive option for family living.

With a population of over 160,000 people, Geelong is the second largest city in Victoria.

With a median house price of $675,000, Geelong offers a range of serene lifestyle options; whether inner city, coastal, suburban, or rural, there’s something for everyone.

If schools are important to you, residents have access to both public and private schools such as the elite Geelong Grammar School as well as a TAFE and Deakin University.

An array of community activities keeps everyone busy all year-round with events such as:

  • The Australian International Airshow
  • AFL football games with the Geelong Cats
  • Music festivals
  • International cycling competitions

From historic buildings in the Geelong CBD to public art spread out along the beach, much of Geelong's unique small-town charm is still evident in the now lively city.

Wodonga

Wodonga is a central and progressive city strategically located 300km north of Melbourne and 580km south of Sydney on the Hume Freeway.

With a population of approximately 42,000 residents, Wodonga is both the largest and fastest-growing city in north east Victoria.

Easy access to public transportation provides the best of both worlds: quiet living close to the hills with easy access to the heart of the city.

The real estate market in Wodonga offers diverse lifestyles with the constantly changing streetscapes serving first home buyers as well as luxurious, up market living.

With a median house price of $329,000, Wodonga suburbs such as Baranduda offer a rural retreat with a community lifestyle that is attractive to many baby boomers as well as retirees.

High quality schools and tertiary institutes, leading health care facilities, excellent recreation options, and plentiful tourism attractions put Wodonga’s family values front and centre.

Listing Loop Knows Victoria

No matter where you look to buy, most homebuyers consider having access to retail outlets, entertainment, parks and public transport at the top of their wish list.

Whether it’s the location or close proximity to schools, buying a house comes down to the features you're willing to trade off for your budget.

One thing is certain – whichever part of Victoria you choose to live, you’re sure to find a family home that suits your needs.

listingloop.com.au

If you're considering buying a house in Victoria, leading real estate agents signed up to Listing Loop are on hand to help you identify off-market properties for sale that best suit your needs. 

We're here to help

We're always happy to help with all the dramas and stressors of house buying and selling in Victoria.

And if you're particularly tired of house-hunting, we've even partnered with buyer advocates who can check out homes for you and organise sales assessments and negotiations.

Our off-market and pre-market marketplace gives you VIP access to properties so you can get in first.

Just sign up at Listing Loop or download our app.

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