Melbourne · Regional Victoria
Melbourne & Victorian Property Investment Locations
We don’t research every location. We focus on the ones worth investigating, and match them to your budget, property type and strategy.
Melbourne and regional Victoria have hundreds of suburbs and towns. Very few have several growth drivers working at once. The locations below have passed our first filter.
A location only works for you if it matches your goals, your purpose for investing, the outcome you need, your strategy and, critically, your budget.
Your budget decides which types of property are realistic in which locations. $700,000 might buy a new house and land package in one growth corridor, a townhouse in another, or an apartment in a middle-ring Melbourne suburb. Each has a different risk, return and resale profile.
Investor → Strategy → Budget → Location → Property
Not Property → Suburb → Hope
Our selected locations
Locations Worth Investigating
Filter by region or by the budget you’re working with. Each location links to our detailed research guide.
| Location | Property types | Indicative budget | Why it’s on our list | Research |
|---|---|---|---|---|
| Melbourne | ||||
| Melbourne apartmentsInner and middle ring | Apartments, off-the-plan | Median unit about $590k–$645k | Big house-to-unit price gap, rising rents, and new supply forecast to stay below average | Read guide |
| Wyndham CityWerribee, Tarneit, Point Cook | House and land, established houses, townhouses | Median house about $670k–$680k | One of Victoria’s fastest-growing regions, maturing town centres and employment; supply needs care | Read guide |
| MeltonWestern growth corridor | House and land, established houses | Median house about $565k | One of Melbourne’s fastest-growing municipalities, relative affordability and strong family demand | Read guide |
| Northern growth corridorMickleham and surrounds | House and land | Median house about $683k | Rapid population growth and access to northern employment; heavy new supply makes selection critical | Read guide |
| Regional Victoria | ||||
| Greater GeelongVictoria’s largest regional city | Established houses, house and land, townhouses | From about $700k in growth suburbs; central Geelong about $930k | 295,000 residents, 147,000+ local jobs and a $16bn+ investment pipeline | Read guide |
| Armstrong Creek & Mount DuneedSouthern Geelong | House and land, new houses | Median house about $700k–$730k | One of Victoria’s largest planned growth areas: 22,000 homes and 22,000 jobs, close to the Surf Coast | Read guide |
| LaraNorthern Geelong | House and land, established houses | Median house about $740k | Between Geelong and Melbourne, with rail access and the Northern and Western Geelong growth areas nearby | Read guide |
| BallaratWestern Victoria | Established houses, house and land | Median house about $685k (Ballarat Central) | One of regional Victoria’s “big three”, with health, education and rail links to Melbourne | Read guide |
| BendigoCentral Victoria | Established houses, house and land, units | Median house about $678k; units about $470k | A diversified regional economy with major health and education employers | Read guide |
| Bacchus MarshBetween Melbourne and Ballarat | House and land, established houses | Median house about $655k | Rail-connected commuter town with strong population growth and fast-selling homes | Read guide |
| No locations match that combination. Try a different region or budget, or talk to us about your options. | ||||
Indicative budgets are recent median prices from the Real Estate Institute of Victoria (current quarter), with Melbourne unit figures from Domain and the REIV. They show where a typical purchase starts, not a valuation. Prices vary widely within each location, so we always assess specific properties on local comparable sales. Last reviewed September 2026.
Free investor guide · 2026 edition
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All 18 locations across Victoria and Queensland, what your budget buys and where, the markets on our radar in WA, SA, Tasmania, regional NSW and the NT, plus our investment-grade checklist.
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What Makes a Location Worth Investigating?
A location doesn’t become interesting just because prices have risen. We look for evidence of the conditions that support sustained housing demand.
Population growth
Is the population growing, who is moving in, and what housing will they need?
Jobs and economic diversity
Growing employment across several sectors, not reliance on one industry or employer.
Infrastructure
Completed, under construction or funded. We treat proposals as upside, never the investment case.
Transport and connectivity
How easily people reach work, education, services and major centres.
Housing demand
Household formation, migration and the changing mix of local households.
Rental market
Vacancy rates, rent growth and genuine tenant demand.
Supply
Land releases, development pipelines and future competing stock.
Affordability
Prices relative to incomes, rents and surrounding markets.
One Reason Isn’t Enough
A growing population alone isn’t enough. Neither is a new train station, a large development or a strong rental market. But when population, jobs, infrastructure, transport, housing demand and affordability start working together, a location becomes worth a closer look.
This mirrors the approach of Hotspotting, the research firm founded by Terry Ryder, which looks for locations where several core growth drivers are working in their favour. We follow its research closely alongside government, council and market data.
Our location research is selective, not exhaustive. That’s the point.
There are hundreds of locations that could attract an investor’s attention. We narrow the field so we can spend our time on the ones that genuinely warrant it, rather than producing thin profiles of hundreds of suburbs.
Why Some of Our Investors Also Look at Queensland
Our focus is Melbourne and Victoria. But strategy comes before location, and for some investors, particularly those building a portfolio across more than one state, Queensland can add diversification.
- Population: strong interstate and overseas migration into South East Queensland and regional centres
- Infrastructure: transport and venue investment ahead of the Brisbane 2032 Games
- Rental demand: very low vacancy rates across many markets
- Diversification: a different state, economy and property cycle from Victoria
We research selected Queensland locations, including Brisbane, Ipswich, Logan, Moreton Bay, the Sunshine Coast, Toowoomba, Townsville and Mackay, on our dedicated Queensland site.
A Location Is Only the Starting Point
A location with strong fundamentals doesn’t make every property in it a good investment. Two properties in the same suburb can perform completely differently because of property type, land, position, design, rental appeal, competing supply, price and resale demand.
So once a location fits, we check whether a specific property fits you:
- Your objectives, strategy and timeframe
- Your budget and borrowing capacity
- Your cash-flow needs and risk profile
- Your existing portfolio and long-term goals
Markets don’t stand still. Population forecasts change, infrastructure progresses, supply and rents move. We review our locations as new information comes in, and add new ones as our research identifies markets worth investigating. This list will grow over time.
Not sure which location fits?
Start With Your Strategy
Tell us your goals and budget, and we’ll show you which locations and property types make sense for you, including ones not yet on this page.
- Real Estate Institute of Victoria, suburb market data (current quarter)
- Domain, House Price Report, June 2026
- City of Greater Geelong, Work and investment
- Hotspotting, Analysts predict a big year ahead, January 2026
General information only. Investment Property Melbourne and properT network do not provide personal financial, legal, tax or lending advice. Prices are indicative medians from the sources and periods stated and change regularly. Property investment carries risk, including the risk of loss. Seek independent professional advice before making any decision.
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