Featured on Channel 7: The Realta on Melbourne’s Hottest Affordable Market
As Seen on Channel 7
The Realta was recently featured on Channel 7 News, with our founder, Rocky Rana and Head of Research, Gurminder Singh, speaking on camera about Melbourne’s most compelling affordable growth market right now, Werribee and the surrounding western corridor.
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ToggleWhat We Told Channel 7
Off-market activity has reached extraordinary levels.
Abhishek Elaawadhi, a local selling agent we work closely with in the western corridor, told Channel 7 that properties that are currently selling for $600,000 may touch valuations of $750,000 to $800,000 in the next two years.The buyers who are winning right now are connected, not just searching.
In our discussion with Kamlesh Kamani, another local selling agent, he made a point that every investor should hear. He noted that the west is currently the most affordable part of Melbourne and that three out of five properties in the $600,000 range are being purchased by investors, because at that price point, with 500 square metres of land, there is simply nothing comparable available anywhere else in Australia. Perth, Adelaide, Brisbane, Sydney, none of them offer that combination of affordability, land size and growth fundamentals at this price point.
The data behind the Werribee decision.
Gurminder Singh, The Realta’s Head of Research, explains exactly why our research team identified Werribee and the neighbouring suburbs, including Hoppers Crossing, as the right entry point for our clients right now.According to him, three specific factors drove the decision:
- First, this market has not performed strongly over the past three to five years. When a market underperforms for an extended period, it builds the conditions for a recovery. Our research team identified Werribee as being in that recovery phase and began purchasing for clients approximately 12 months ago, before the broader market caught on.
- Second, land size matters. The property we had just secured for a client sits on 550 square metres of land and was purchased in the budget range of our client $600,000 to $610,000. The majority of that purchase price is going towards land, and land appreciates. The building depreciates. Buying where your money goes primarily into land is one of the most fundamental principles of long-term property investment, and Werribee delivers it at a price point most other Melbourne suburbs cannot.
- Third, affordability is a genuine growth driver, not just a consolation prize. In a high-interest-rate environment, properties in the affordable range consistently outperform expensive properties. Buyers and investors who stick to or below the typical value of a suburb will, according to Gurminder, almost always see stronger performance over time.
Watch this on Channel 7’s YouTube channel – New data highlights Melbourne’s most affordable suburbs as housing market flatlines | 7NEWS
The Numbers Behind the Team on Camera
What This Means for Melbourne Property Investors Right Now
If you are sitting on the sidelines waiting for the perfect moment, consider what Gurminder said on camera: the market cycle does not wait. Werribee started recovering over 12 months ago. The buyers who acted then are already ahead. The buyers who act now are still in a strong position. The buyers who wait may find the window has closed.
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Rocky Rana is the Founder and Principal Buyers Advocate at The Realta, a licensed Melbourne buyers agency (Agency Licence No. 0921021L). He holds a Real Estate Agent Licence No. 091606L and brings strong expertise in both finance and property.
Rocky began his career at the Commonwealth Bank of Australia in Data and Analytics before becoming a licensed real estate agent with the Ray White Group. With over 20 years of combined experience and a successful million-dollar property portfolio across Australia, he now helps clients make smart investment decisions and purchase their first homes across Melbourne and beyond.