The Top Ten Suburbs Where Melbourne First Home Buyers Should Head In 2026

• Tarneit, Reservoir and Werribee are the best options for buyers seeking value and connectivity 

• Each suburb has a median price below the price caps for the First Home Buyer Guarantee Scheme and the Help to Buy Scheme 

• Plenty of stock available to ensure buyers are not competing against investors and second-home buyers 

National property specialist Oliver Hume has released a list of Melbourne’s 10 best suburbs for first-home buyers in 2026, with Tarneit, Reservoir and Werribee being identified as the leading options for buyers seeking affordable homes in great locations. 

Oliver Hume researchers analysed dozens of suburbs on the basis of affordability, eligibility for government buying assistance, available supply and proximity to important infrastructure. 

Oliver Hume MyFirstHome CEO Adam Duster said while first home buyers had faced significant challenges over recent years there was still plenty of opportunities for those willing to cast a wide net. 

“For first home buyers, it is all about getting into that first property and holding it for the long term,” he said. “The sooner you get started, the sooner you can start to build towards your dream home.”  

Oliver Hume Chief Economist Matt Bell said there were still plenty of options for first-home buyers in Melbourne. 

“Melbourne is the capital with more available stock than anywhere else and given the lacklustre price growth of the last few years, more affordable suburbs,” he said.  

Suburb	Total Properties	Median sales price (last 12 mths)	# of listings last 12 months	# of listings last 1 month
Wyndham Vale	8,535	$585,000	756	192
Laverton	1,678	$600,000	141	51
Werribee	17,127	$620,000	1,093	207
Donnybrook	3,818	$645,000	580	175
Tarneit	21,857	$658,000	2,044	590
Sunbury	14,310	$670,000	1,115	244
St Albans	9,731	$673,000	459	102
Pakenham	16,638	$680,000	1,063	200
Clyde North	13,831	$734,200	1,228	318
Reservoir	12,873	$920,000	532	112

“The suburbs on our list don’t just meet the affordability test; they support the day-to-day needs of buyers who want their first home to work for their lifestyle. When you weigh up all the factors, they provide a great option for first home buyers looking to get on the property ladder.” 

“These suburbs remain standouts for buyers looking to maximise their deposit, get access to government assistance schemes while still living in well-located and serviced communities.” 

MyFirstHome Pick 1 - Tarneit  

Situated Only 26kms from the CBD, well connected to the city via road and train, it’s a great suburb for those seeking a balance between suburban living and city access 

• Median house price: $658,000 

• Available listings over the last 12 months: 2,044 

• Key strengths: Good transport connections, established community services, high levels of choice 

MyFirstHome Pick 2 - Reservoir 

If you’re looking for something much closer to the city, Reservoir is only 12km from the CBD and the median price of $920,000 still gets you under the property price cap for the FHB schemes. 

• Median house price: $920,000 

• Available listings over the last 12 months: 532 

• Key strengths: train links directly to Brisbane CBD, access to the Sunshine Coast, plenty of choice 

It had 112 house listings for sale in August, providing plenty of choice, and with one of the lower rental yields of eligible suburbs analysed (at 3.3%), you probably won’t be competing with investors. 

MyFirstHome Pick 3 - Werribee 

Only 30kms from the CBD, well connected to the city via train with a very affordable median house price of only $620,000 over the last 12 months, there were more than 200 listings in August, so plenty of availability of stock.  

• Median house price: $620,000 

• Available listings over the last 12 months: 1,093 

• Key strengths: relatively close to employment hubs, lots of listings and choice at different price points, well under the First Home Buyer Guarantee Cap