Help to Buy: Melbourne's qualifying hot spots with property up for grabs

Suburban Melbourne. Picture: Getty

Expected to launch later this year, the scheme will see the federal government make a contribution of up to 40% in exchange for a share, or proportional interest in the property.

Buyers with a deposit of at least 2% will be able to access the scheme, and the size of the equity contribution can vary from up to 30% for an existing home, to 40% for a new property.

This aims to assist prospective home owners gain access to the property market sooner than they would otherwise have been able, thanks to a smaller deposit.

New property price caps linked to average house prices across each state and territory have been introduced earlier this year which have broadened the range of options available.

In Victoria – capital city and regional, the property price cap is set at $950,000.

Here is a selection of properties for sale in Victoria that fall within the Help to Buy’s property price cap:

124 Choppin Street, Richmond

Positioned in the heart of Melbourne's inner south region, this Victorian terrace complete with white picket fence is described as "radiating a warm and welcoming environment".

The terraced property has a courtyard/alfresco area, and parking options.

It has a price guide of $890,000 - $950,000.

364 Ross Street, Port Melbourne

Set to go under the hammer later this month, this two bedroom Victorian cottage is conveniently located near North Port Oval, pubs, the light rail, Southbank and the CBD.

While offering renovation potential, the two bedroom home is ready to move in with vaulted ceilings and skylights, and a rear courtyard.

It also has attic storage, plantation shutters, reverse cycle air-conditioning and security doors.

It has a price guide of $900,000 to $950,000.

634 Spencer Street, West Melbourne

Advertised as suiting a renovator or someone wanting to create their dream home, this two bedroom Victorian terrace is on offer for $820,000 to $900,000.

Described in its listing as offering “timeless elegance with exceptional inner-city convenience,” it also features a separate lounge and kitchen, as well as a bathroom with a separate shower.

Other features include a paved rear courtyard and close proximity to the CBD, Marvel Stadium and the Docklands.

7 Wilkinson Street, Reservoir

This new property is close to both bus and tram services along Plenty Road to the city, and also has good access to local schools and shops.

The low-maintenance townhouse has three bedrooms and two bathrooms.

It has an auction guide price of $900,000-$990,000.

5/45-47 Hotham Street, St Kilda East

This two-bedroom, two-bathroom townhouse residence is hidden behind a heritage fronted building and is just moments from local buses and parks.

The layout could work for both families or independent housemates and is positioned just moments from the middle of the trendy wider St Kilda area.

It has a price guide of $875,000 - $920,000.

32 Brendan Road, Greenvale

This north Melbourne townhouse is just 12 minutes from the airport and less than 10 minutes from multiple train stations with fast access to the CBD.  

The new build property has three bedrooms and a spacious interior and is on the market with an enviable price guide of $549,000 - 579,000.

21 Club Avenue, Kingsbury

Positioned on a direct tramline into central Melbourne, this is described as an entry level priced home is "sure to impress".

Close to La Trobe University, the three-bedroom, one-bathroom property is new to market with a price guide of $680,000 to $730,000.