The north Melbourne suburb that first home buyers love
Hotspot in Focus: Craigieburn
Craigieburn is a Victorian suburb in the Metropolitan Melbourne region. It is 26 km north of Melbourne’s CBD and has been a very popular destination for first home buyer looking for their first home.
CRAIGIEBURN AT A GLANCE
DISTANCE TO MELBOURNE CBD
City of Hume
Craigieburn Primary School, Hume Anglican Grammar School, Mount Ridley College
Bus, Car (Freeway), Train
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 the suburb of ‘Craigieburn’?
As the housing affordability crisis worsens in Melbourne, Craigieburn has been and is increasingly becoming a popular destination for aspiring first home buyers due to some of the desirable features the suburb offers. Craigieburn is well known for its multiculturalism and is within a reasonable distance from the Melbourne CBD. Some reasons why first home buyers might find Craigieburn as a suitable first home choice include :
Variety & Lifestyle – Craigieburn is a blossoming & family-friendly suburb in Melbourne’s outer-north suburbs. With the following amenities/attractions available within the suburb, it is no surprise that it is fast becoming a first home buyer hotspot (and why it has been one in the past few years):
- Golf courses
- Popular shopping centre
- Drive-in (the state’s last remaining)
- Sporting fields
- Plenty of parklands
- Medical centres
Therefore, first home buyers in Craigieburn can enjoy all the benefits of community living but with easy access to everything the area has to offer. It is ideal for families as it is an established suburb and has something for everyone – i.e. young couples & families.
Craigieburn offers shopping at three popular centres in the suburb: Craigieburn Central, Craigieburn Plaza or Highlands Shopping Centre.
Transport & Location – Whilst Craigieburn is 26kms from the Melbourne CBD, one of the best features of the suburb is its location and transport links. You can get to the Melbourne CBD via train in 40 -50 mins (depending on the time of day) and to other parts of Melbourne’s north, such as Essendon, in less than 25 minutes.
It’s not only the convenient train network, Craigieburn is also well serviced by the Hume Highway which runs from the Melbourne CBD through to Craigieburn and beyond. The Melbourne International & Domestic Airport in Tullamarine is also on the way to the Melbourne CBD, slightly the West.
In terms of buses, the Craigieburn Train Station also has an extensive bus interchange servicing residents who in surrounding suburbs that don’t have the luxury of a train line.
Schools – There are plenty of child care and early learning centres in Craigieburn, making it the ideal suburb for young families. As the population in the suburb continues to grow, more child care centres are opening and capacity in the schools is being increased.
There are a large number of primary schools and several secondary schools, both state and Catholic schools servicing the suburb of Craigieburn. The two most popular schools in the region include:
- Aitken creek primary
- Mt Ridley college
Over 50,000 people call Craigieburn their place of residence now.
The Craigieburn economy
The City of Hume is a hive of activity with a rapidly expanding population of over 200,000 people – one of the fastest and largest growth municipalities in Melbourne. Population and urban growth continues to occur around Craigieburn areas and is expected to continue, driven through the combination of greenfield development and potential expansion of the Urban Growth Boundary (UGB). As there is still plenty of open space in Craigieburn, this looks set to continue well into the future.
With the City of Hume forecast to have over 370,000 residents in the future, it is important for the Council to continually develop the area.
The Craigieburn population alone is expected to increase by 50% over the next two decades.
Some of the major developments taking places in Craigieburn include:
- Redevelopment of the Malcolm Creek Children’s Centre to increase capacity
- New multi-million dollar parkland in the heart of Craigieburn; featuring a playground, picnic area, basketball court, and skate facility
- Aitken Hill Community Centre is being developed to include an activity precinct, with a primary school, active open space and parkland.
Craigieburn first home buyer housing
With the median house price in Melbourne’s inner suburbs mostly unaffordable for most first home buyers, it is no surprise that the suburb of Craigieburn is popular with aspiring first home buyers, especially those looking to take advantage of the VIC FHOG by buying brand house & land packages and the Stamp Duty exemption available for established home buyers under $600,000 and concessions available to those looking to buy under $750,000. Craigieburn still has plenty of capacity to welcome new residents, especially first home buyers who are looking to buy in Melbourne’s northern suburbs
According to APM Data, the median prices in Craigieburn are as follows (as of February 2018):
Craigieburn Houses – $505,000
Craigieburn Units – $350,000 (limited supply)
The median prices mentioned above shows the region is comparatively more affordable than many other parts of Melbourne. In particular, first home buyers have taken advantage of the VIC Government’s stamp duty exemptions by buying houses in the area since 01 July 2017 – this has resulted in Craigieburn being known as one of the most popular suburbs for stamp duty savings across the state. For first home buyers looking to buy a house or townhouse, they are still able to take advantage of stamp duty discounts for a property purchase price between $600,000 – $750,000 (at the time of writing on 03/01/2018)
A boom in the construction industry in VIC has also resulted in a greater number of house & land packages becoming available in the area and allowing first home buyers take advantage of the $10,000 FHOG in VIC (for a purchase price below $750,000) and affordable prices relative to other Melbourne regions. This means there is plenty of supply for first home buyers to take advantage of when buying their first home. Over the last 2 financial years, Craigieburn has ranked in the top 10 for suburbs where first home buyers have taken advantage of the FHOG.
Craigieburn 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 one of the above suburbs? Click here to use our Eligibility Estimator.
How can FHBA help secure your first home in Craigieburn?
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 Craigieburn 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