Top Melbourne Suburbs to Invest, For Budgets of Less Than $500,000

Flemington Post OfficeMELBOURNE’s once booming real-estate market has finally decelerated – and for the first time in a long time, buyers are calling the shots.

If you have a secure job, low debt and a will to own real estate – banks, developers and the Government want to talk.

But a word of advice: if you do take the plunge, spend what you can afford, rather than the maximum amount you can borrow.

Saturday Domain talks to some experts on which suburbs you should look at, no matter what your budget:

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New High Rise Apartment Set For Around Citylink Sound Tube

ONE plus of the contentious Melbourne @ 5 Million planning policy is that new high rise apartment towers have the potential to dwarf, or hide, eyesore commission flats which are all too prominent around town.

Now an area of Melbourne where high rise public housing towers are particularly prevalent – around the parts of the Citylink motorway known as “The Zipper” and “The Tube” in Ascot Vale – is set to be joined by a new, more stylish neighbour.

Developer Bensons Property Group has started marketing the last stage of its Travancore on the Park project, a $395 million village being developed on the former Lombard Paper factory site in Mount Alexander Road, which was destroyed by fire in late 2004.

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High Rise Apartments Planned For Prominent Site, Opposite Flemington Racecourse Entrance

FOR the week of the Spring Racing Carnival, it’s arguably Melbourne’s busiest roundabout.
 
But when revellers return to the races next year – things could very different at the frantic intersection of Ascot Vale, Epsom and Racecourse roads, near the main Flemington Racecourse entrance.
 
The owner of the prominent 1 Ascot Vale Road site, Flemington Development Company, is preparing to lodge plans to develop an environmentally sustainable 20-level apartment tower, on what is now the Racecourse Tavern, Epsom Bistro, a bottle shop, motel and car park. 

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