Best Melbourne Suburbs for Townhouse Development
Best Melbourne Suburbs for Townhouse Development
Is 2022 the year you finally contact your local Melbourne Townhouse builder and start planning your first multi-unit development?
We want to make sure you get the most out of your investment, and one of the best ways to achieve this is by choosing the right location.
The location of your multi-unit development is key to achieving a high ROI.
Melbourne townhouses that are located in neighbourhoods with excellent transport, parks, restaurants and cafes, shopping, and schools are now more important than ever. After lengthy lockdowns during the pandemic in 2020 and 2021 future buyers and renters want their Melbourne townhouse to be located within a 20-minute walk or a 10-minute drive of everything their exciting neighbourhood has to offer.
We have compiled a list of the 14 best Melbourne suburbs for townhouse development in 2022.
1. Preston
- Median unit sale price:
2 BR unit: $620,500
3 BR unit: $917,500
- Median unit rental price:
2 BR unit: $390pw
3 BR unit: $515pw
- Median age: 36
- Located: 9km from the city centre
- Average days on market: 56
A sprawling eclectic suburb that is often described as a hidden gem. Singles and families love the vibrant lifestyle on offer and the beautiful blend of modern amenities with old-world charm.
2. Altona
- Median unit sale price:
2 BR unit: $691,667
3 BR unit: $875,500
- Median unit rental price:
2 BR unit: $370pw
3 BR unit: $525pw
- Median age: 42
- Located: 17.2km from the city centre
- Average days on market: 51
Altona is the perfect location for Melbourne townhouse renters or buyers who want to live close to West Melbourne’s largest beach.
3. Coburg
- Median unit sale price:
2 BR unit: $584,200
3 BR unit: $835,00
- Median unit rental price:
2 BR unit: $390pw
3 BR unit: $550pw
- Median age: 3
- Located: 13.5km from the city centre
- Average days on market: 56
Established couples and families are escaping to Coburg for its lively but laid back vibe, multiculturalism, and accessibility to the city centre. Add in great food and shopping and its easy to see why Coburg is a hotspot for investing in 2022.
4. Braybrook
- Median unit sale price:
2 BR unit: $596,500
3 BR unit: $647,500
- Median unit rental price:
2 BR unit: $350pw
3 BR unit: $450pw
- Median age: 32
- Located: 12.4km from the city centre
- Average days on market: 67
Independent youth, such as first home buyers, are quickly snatching up Melbourne townhouses due to its close proximity to Melbourne’s non-stop city centre, schools, daycare facilities, parks and shops.
5. Sunshine
- Median unit sale price:
2 BR unit: $545,000
3 BR unit: $712,750
- Median unit rental price:
2 BR unit: $340pw
3 BR unit: $400pw
- Median age: 34
- Located: 13.5km from the city centre
- Average days on market: 67
Located within a 40 minute drive to the bustling centre of Melbourne, Sunshine is a hotspot for investing in 2022, offering Melbourne townhouse buyers and renters a quiet lifestyle in an exciting city.
6. Ardeer
- Median unit sale price:
2 BR unit: $520,000
3 BR unit: $590,000
- Median unit rental price:
2 BR unit: $350pw
3 BR unit: $378pw
- Median age: 35
- Located: 15km from the city centre
- Average days on market: 75.3
For families and young professionals looking for a friendly nature filled suburb close to the centre of Melbourne, Ardeer is one of the top contenders.
7. Airport West
- Median unit sale price:
2 BR unit: $601,000
3 BR unit: $738,000
- Median unit rental price:
2 BR unit: $383pw
3 BR unit: $500pw
- Median age: 40
- Located: 16.8km from the city centre
- Average days on market: 61
Due to its easy accessibility to Tullamarine airport, Melbourne townhouses in Airport West are being snatched up by locals who want to easily hop on a flight for frequent business trips, or holidays.
8. Essendon
- Median unit sale price:
2 BR unit: $590,000
3 BR unit: $921,000
- Median unit rental price:
2 BR unit: $370pw
3 BR unit: $535pw
- Median age: 37
- Located: 12.7km from the city centre
- Average days on market: 68
With lush hills and a grand river set in a historical backdrop it’s no surprise that Essendon is a hot spot for investing in 2022.
9. Keilor East
- Median unit sale price:
2 BR unit: $715,000
3 BR unit: $755,000
- Median unit rental price:
2 BR unit: $385pw
3 BR unit: $450pw
- Median age: 43
- Located: 19km from the city centre
- Average days on market: 85
Keilor East’s short commute to major shopping centres such as Highpoint and DFO, public transport and schools make this quiet and safe suburb a hot spot for Melbourne townhouse development in 2022.
10. Werribee
- Median unit sale price:
2 BR unit: $$375,00
3 BR unit: $440,00
- Median unit rental price:
2 BR unit: $300pw
3 BR unit: $335,00
- Median age: 36
- Located: 32km from the city centre
- Average days on market: 49
Known for its many tourist attractions Werribee has long been a popular suburb for new and established investors.
11. Niddrie
- Median unit sale price:
2 BR unit: $$763,500
3 BR unit: $825,00
- Median unit rental price:
2 BR unit: $390pw
3 BR unit: $500pw
- Median age: 40
- Located: 17km from the city centre
- Average days on market: 89.5
Investors from all over Australia are choosing to develop their dual-occupancy units in Niddrie for its popularity amongst middle-class families looking for a high end, low-maintenance Melbourne townhouse to rent or buy.
12. Yarraville
- Median unit sale price:
2 BR unit: $888,000
3 BR unit: $1,050,000
- Median unit rental price:
2 BR unit: $450pw
3 BR unit: $630pw
- Median age: 32
- Located: 6km from the city centre
- Average days on market: 61
Named the fifth coolest suburb in the world in 2020 by Melbourne locals, Yarraville is prime location for a high-end Melbourne townhouse.
13. Footscray
- Median unit sale price:
2 BR unit: $492,250
3 BR unit: $740,000
- Median unit rental price:
2 BR unit: $380pw
3 BR unit: $550pw
- Median age: 32
- Located: 5km from the city centre
- Average days on market: 89
With a growing arts scene and a quick commute to Melbourne’s city centre, Footscray has always been a valuable suburb to build a multi-unit development.
14. Taylor Lakes
- Median unit sale price:
2 BR unit: $820,500
3 BR unit: $912,600
- Median unit rental price:
2 BR unit: $420pw
3 BR unit: $460pw
- Median age: 41
- Located: 20km from the city centre
- Average days on market: N/A
Taylor Lakes constantly attracts young Families to its friendly neighbourhoods looking for the perfect Melbourne townhouse to rent or buy.
Looking for a townhouse builder in Melbourne?
Whether you are a first time investor in multi-unit developments or you are a seasoned professional, a specialised townhouse builder can help you get the most out of your investment.
Contact delcon design and construct on: 1800 335 266 or at: info@delcon.net.au to get started on your future-building Melbourne townhouse.
Best Melbourne Suburbs for Townhouse Development