Why Melbourne’s SW suburbs are a first home buyer hotspot
Hotspot in Focus: City of Wyndham
The City of Wyndham is a local council area in Victoria, in the outer south-western suburbs of Melbourne, within the Melbourne metropolitan Area, between Melbourne and the regional city of Geelong. Wyndham is a designated growth area of Melbourne, currently ranked as the third fastest growing area in Victoria.
WYNDHAM AT A GLANCE
DISTANCE TO MELBOURNE CBD
City of Wyndham
Our Lady of the Southern Cross Primary School, Wyndham Vale Primary School
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 Wyndham region?
WYNDHAM has been identified as an affordable first home buyer hotspot by many property experts. Melbourne is considered one of the most liveable cities in Australia. Wyndham is one of the fastest growing municipalities in Victoria. Since 2001, Wyndham has grown from around 85,000 residents to an ever-expanding City of over 228,000 people. Wyndham’s population is projected to grow to 425,000 by 2040. There are various reasons why Wyndham is considered to be a first home buyer hotspot, some of these include:
Variety & Lifestyle – As a resident of the Wyndham region, you will get to enjoy and experience Wyndham’s colourful & diverse community, family-friendly way of life, vibrant retail and shopping precincts, active arts and events scene, amazing coastal and natural open space areas. Wyndham covers an area of 542km² and features 27km of coastline bordering Port Phillip Bay. In addition to this, the region also has many fantastic attractions for local residents to enjoy:
- Werribee Mansion
- Werribee Open Range Zoo
- National Equestrian Centre
- Shadow Fax Winery and Restaurant.
Wyndham, therefore, offers a wealth of ways residents can enrich their lives and enjoy their leisure time.
Transport & Location – The rapid population growth and urban expansion in Wyndham have added to the list of State Government’s backlog of essential transport-related infrastructure. Only a few years ago, the new train stations in Wyndham Vale & Tarneit were unveiled. This has resulted in a much more hassle-free commute to the Melbourne CBD.
The train ride from the City of Wyndham’s suburbs to the Melbourne CBD is just under one hour. For those first home buyers looking to take their car to the Melbourne City the off-peak drive is about 40 mins.
The bus network in the region has also been updated recently to respond to the fast-growing population of Wyndham and to ensure bus services fully integrate with new train stations at Wyndham Vale and Tarneit.
Schools – Educational institutions include plenty of kindergartens and pre-schools, and several primary & high schools. Some of the more popular schools in the region include:
- Our Lady of the Southern Cross Primary School
- Manor Lakes College
- Iramoo Primary School
- Tarneit P-9 College
The state-of-the-art new Wyndham Vale Station
The Wyndham economy
A traditional manufacturing base at Laverton North and Truganina have been a major driver of the local economy in the Wyndham region. As the area has excellent connections to air and sea ports these have undertaken a major transformation, growing to be Melbourne’s most significant logistics hub. The city also offers intensive agriculture at Werribee South.
There were 42,923 jobs located in the City of Wyndham in the year ending June 2016
Tourism also plays a large role in the local economy. The Werribee Park tourism precinct includes the Werribee Open Range Zoo, National Equestrian Centre, Werribee Park Mansion and Victoria State Rose Garden making it one of the largest and most frequently visited tourism destinations in metropolitan Melbourne – this has added significantly to the economy as a large proportion of the staff for these destinations are local Wyndham residents.
The planned development of the East Werribee Employment Precinct and Werribee City Centre will provide a regional focal point for future development, with a vision for 60,000 jobs within the Employment Precinct.
Wyndham first home buyer housing
The city of Melbourne is consistently voted as one of the world’s most liveable and best cities, which means it is no surprise that the City of Wyndham is popular for aspiring first home buyers, especially those looking to take advantage of the VIC FHOG.
According to APM Data, the median prices in Wyndham are as follows (as of November 2017):
Wyndham Houses – $425,000
Wyndham Units – $209,500
The median prices mentioned above shows the region is a very affordable place to live for aspiring first home buyers. First home buyers are able to take advantage of VIC FHOG of $10,000 – for brand new homes. In Victoria, first home buyers are also able to enjoy stamp duty exemptions (for both established & new houses) up to a purchase price of $600,000 and stamp duty discounts up to $750,000
Other popular & affordable suburbs in the Wyndham region include:
- Hoppers Crossing
A boom in the construction industry in Melbourne 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 and affordable prices relative to other Melbourne regions.
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 Salisbury?
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 the Wyndham region 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