Seven of Victoria’s top 10 growth suburbs are located within 40 km of the CBD, new research has found.
According to PRDnationwide, Blairgowrie in the state’s south topped the list of best growth, recording a 193.8 per cent growth in the number of house sales between April and September 2009.
Josh Brown, PRDnationwide research analyst, said Blairgowrie was an emerging suburb on the Mornington Peninsula which was relatively affordable compared to neighbouring suburbs, with the median house price sitting at $512,000.
Lyndhurst came in second, followed by Templestowe, Oakleigh South, Dandenong North, Chadstone, Leongatha, South Melbourne, Mentone and Kialla.
According to Mr Brown, the increased demand experienced by these top ten suburbs has been driven by two types of purchasers; investors taking advantage of the good capital growth and premium rents attracted by properties in such locations and up-graders seeking the convenience of living in areas of high amenity.