Melton, Doreen and Sunbury good spots for home buying

A multi-million dollar community fund for Melbourne could do good things for property owners in areas tipped for growth.

As part of the Plan Melbourne project, several areas tipped for strong population growth have been identified by the state government to receive project funding for community, arts, sport, health and education hubs, according to Planning Minister Matthew Guy.

Opportunities for property owners

Those living in Doreen, Fishermans Bend, Melton, Officer, Sunbury and Wyndham may experience a rise in house values as new projects make these areas even more highly sought-after among individuals, couples and families.

An initial 14 projects have been announced as part of the $9.3 million community fund.

The noted suburbs were selected for their high population growth. Current owners of property in the areas should have no trouble selling their houses or units to buyers over coming months and years, given the upcoming improvements to be made.

Alternatively, they may wish to sit tight and build up the equity in their home while taking out a mortgage refinance in order to pay off their home loan as quickly as possible.

Melton, which is located 44 km north-west of the Melbourne CBD, will receive $1 million funding for the improvement of local kindergartens as well as family support, child health and sports buildings.

Doreen homeowners will be pleased with the $1 million grant toward a new community building and refurbished sports pavilion, while residents in Sunbury will benefit from a $60,000 injection towards its arts and cultural facilities, as well as a new global learning centre.

The areas of Fishermans Bend, Officer and Wyndham will also receive funding ranging between $50,000 and $872,000 for a range of projects.

Those living in these high-growth areas could be set for strong capital growth in upcoming years.

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