Fast growing Caroline Springs attracting Victorian first home buyers
Hotspot in Focus: Caroline Springs
Caroline Springs is a suburb, only 25 km west of Melbourne’s CBD, located within the City of Melton Council. Caroline Springs was previously known as one of Melbourne’s fastest growing suburbs.
CAROLINE SPRINGS AT A GLANCE
DISTANCE TO MELBOURNE CBD
City of Melton
Catholic Regional College, Creekside College, St George Preca Primary School
Bus, Train, Car (Freeway)
MEDIAN DWELLING PRICE
Disclaimer: This article is general nature and should not be relied upon. FHBA is not qualified or licensed to recommend locations for your first home. If you do not know where you want to buy your first home you should speak to a licensed professional.
Why Caroline Springs?
With Caroline Springs offering a community feel along with a range of facilities that all residents need, it is a very popular choice for people who want a family home in a family-friendly area. Some reasons why first home buyers might find Caroline Springs as a suitable first home choice include:
Variety & Lifestyle – One of the key features of Caroline Springs is the fact that it has everything that you need close by. Caroline Springs has a lot to offer for first home buyers:
- Leisure & sports centres
- Two shopping centres – CS Square & Central (all the major retailers are here
- Plenty of cafes & restaurants for dining out
- Plenty of parkland for the young ones
Transport & Location – The Caroline Springs (Ravenhall) Train Station opened in January 2017, which has led to the commute from Caroline Springs to the Melbourne CBD reducing significantly to only 29 minutes. The train line also connects to those
Caroline Springs also offers convenience for those looking to drive to the inner suburbs of Melbourne. The Western Highway offers a short 33-minute drive to Melbourne during off-peak hours.
Local bus services are also in place getting residents to surrounding areas from the Caroline Springs Train Station.
Schools – There are plenty of child care and early learning centres in Caroline Springs & surrounding suburbs, assisting those first home buyers with young children. As the population in the suburb continues to grow with more new housing, more child care centres are opening and capacity in the schools is being increased.
There are a number of primary schools and several secondary schools servicing the suburb of Caroline Springs The most popular schools in the region include:
- Catholic Regional College Caroline Springs
- Creekside College
- St George Preca Primary School
- Brookside P-9 College
The Caroline Springs Train Station was opened in January 2017
The Caroline Springs economy
Caroline Springs Square is a convenient shopping centre in the eastern portion of Melton City. It has been servicing the local area since opening over a decade ago shopping centre and has provided plenty of jobs and growth for the local economy. The city of Melton is home to one of the most rapidly growing urban corridors in Australia – the fourth fastest growing corridor in Australia.
The median age in the suburb of Caroline Springs is 31
With the suburb median age at only 31 and with 84% of the population under the age of 50, the area is suitable for young/middle-aged first home buyers looking to settle in the area.
Caroline Springs first home buyer housing
Caroline Springs does offer affordable living options for first home buyers who are looking to live in the middle ring suburbs of Melbourne. There are plenty of established and a few brand new house & townhouse options for first home buyers looking to buy in this region.
According to APM Data, the median house prices are as follows (as of April 2018):
Caroline Springs (Houses) – $610,000
Caroline Springs (Units) – $435,000
The median prices mentioned prices mentioned above are significantly lower than Melbourne’s median unit price, especially for those looking to buy within a reasonable distance of the Melbourne CBD and for those looking for easy access to the CBD. For first home buyers looking to buy a house, there are more affordable options with the median house price at $610,000 (as of April 2018) – an option for first home buyers looking for entry-level housing. There are also some new townhouses & apartments in the area for those looking for low maintenance living in the suburb of Caroline Springs.
First home buyers can take advantage of the $10,000 FHOG in VIC (for a total purchase price below $750,000 for houses). This means there is plenty of supply for first home buyers to take advantage of when buying their first home in the region. More importantly, for those looking to buy an established property, the VIC Government offers stamp duty exemptions for properties that are priced below $600,000.
Caroline Springs is also a preferred location for the Victorian Government’s shared ownership scheme – HomesVic.
Looking to determine if you have saved enough for your first home in Caroline Springs? Click here to use our Eligibility Estimator.
How can FHBA help secure your first home in Caroline Springs?
Buying your first home can be quite tricky. That’s why at FHBA, we are with you every step of the way, even as far as helping you move into your first home!
First Home Loan
Your FHBA Coach will explain all the steps, determine your borrowing capacity, offer suitable loan options, compile your loan application paperwork and even assist you with applications for the FHOG in VIC. Click here to get pre-approved with a no-charge assessment!
FHOG eligible brand new home
We have access to a range of brand new property opportunities for aspiring first home buyers looking to buy in Caroline Springs and surrounding areas (all with FHOG eligibility + the FHBA 50 Rebate!). Be sure to complete the form at the bottom of this page if you are interested and want to know more about the exciting apartments, townhouses and house & land packages we have access to. Alternatively, search our large range of properties by clicking here.
FHBA assists first home buyers looking to buy an established home – regardless of budget, property type, or property location, we will not rest until you have successfully settled on a property you have chosen & you have comfortably moved into your first home.
If you are looking for more information or if you have any questions, please complete the form below to speak with an FHBA Coach.
First Home Buyers Australia