Back in time:
According to Domain if 40 years ago (back in 1975) you had about $30,000 to buy a house , you could have bought in almost any Melbourne suburb.
A house in Balwyn ($34,000) cost the same as a house in Bundoora ($33,750).
A house in Hawthorn East cost the same as a house in Frankston North.
Use the following interactive graphic to see how values grew in your suburb:
Unfortunately, not all properties increased in value significantly
As always, where there are winners, there have to be losers.
Back in 1975 that budget of about $30,000 could have secured you a typical home in Melton (with lots of land too), in what was then a satellite city some 35 kilometres west of the CBD.
Over the last 40 years Melton has had the slowest rate of any Melbourne suburb and its median price currently stand at $250,000.
Boy would you have missed out on hundreds and hundreds of thousands of dollars of potential capital gains
The same could be said for Hoppers Crossing where in 1975, the median house price was almost $31,000 making it more expensive than Middle Park and way more expensive than Richmond at $22,000.
However, Hoppers Crossing has limped along in price growth to reach $345,000 today, whereas the median house price in Richmond is now $1 million.
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