Hey mate, I’d be looking for a project with a good gap between bottom and top end, which is tricky to find in this market. Out north has the best chance atm I feel down south has seen a lot more growth in that under $400k market in the past 2 years making it almost very hard to find an under $400k deal
Shepparton is 2 hours drive from Melbourne have a look at a town called Seymour it's on the Shepparton train line it only an hour out of Melbourne and the house prices are the same