The Top 5 Melbourne Suburbs Under $700,000 (Hidden Value)

Book a Free Strategy Call with Joel https://calendly.com/joel-tomii/client-meetingWhat can you actually buy for $700K in Melbourne in 2026?Joel and Brodie break down their top five Melbourne and Victorian picks where investors can still buy a house on a solid block of land for around $700K. They explain why established suburbs, larger blocks, strong amenities and future development potential can create better long-term opportunities than newer house-and-land estates. From Narre Warren and Frankston North to Cranbourne North, Meadow Heights and Corio in Geelong, they unpack what you can realistically buy, which pockets to target, what to avoid and why land size remains one of the most important factors for long-term capital growth.Why tradies need to watch this:• Five areas where $700K can still buy a house on land.• Why established suburbs can outperform new-build areas.• Why land size and land value matter for long-term growth.• How renovations, granny flats and development potential can build equity.• Why choosing the right pocket within a suburb matters.• How affordability and multiple buyer groups create a floor under prices.Timestamps0:00 – What can you buy for $700K in Melbourne?1:40 – Why $700K is a key affordability price point2:24 – #1 Narre Warren3:39 – Narre Warren vs new builds in Clyde North4:09 – Why older properties and bigger land can be better6:27 – #2 Frankston North7:26 – Frankston's growth, development & gentrification11:39 – The good and bad pockets of Frankston North12:28 – #3 Cranbourne North14:09 – Why established pockets matter14:44 – What you can buy in Cranbourne North18:01 – #4 Meadow Heights18:54 – Villa units and value in Meadow Heights20:07 – Why Meadow Heights beats other northern options23:00 – #5 Corio, Geelong23:42 – Geelong's growth, migration & development24:30 – The best pockets of Geelong25:00 – Rapid Fire: Which suburb has the best growth potential?26:00 – Why bigger land matters26:38 – Which $700K markets are getting stretched?27:24 – Does being near the beach improve capital growth?28:31 – What would they buy if building a portfolio today?30:36 – How realistic is dual occupancy?32:43 – Why $700K properties have a pricing floor34:23 – 40-year loans, borrowing capacity & the next buying window36:08 – Which suburb could grow the most over five years?37:16 – Final advice: what to look for with a $700K budget