Melbourne housing affordability: Units in sought-after suburbs offer big discounts for first-home buyers [Video]

A two-bedroom, two-bathroom unit at 314/216 Bay Rd, Sandringham recently sold under the hammer for $600,000, more than $1m less than a typical house price in the suburb.

Melbourne homebuyers on a budget have been given a hit list of the best suburbs where they can get a unit for as much as $1m less than the typical house.

And experts have revealed going cheap could leave purchasers very cheerful, with scope for unit values to rise faster than houses in some pockets.

Analysis by SuburbData has revealed a unit can be had in areas from Elsternwick and Williamstown for less than a third of what a typical house costs.

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St Kilda East and Elwood also make the list of areas offering big discounts, as well as scope for …