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It depends on how you define "value". My thoughts are that value is only truly found in property that appeals to the broad spectrum of the market, that you can sell with multiple interested parties at any time in the market. If you define value in purchasing price alone, as some do, then...

If you're price sensitive and want to buy a house/villa rather than an apartment Ringwood is a reasonable option when compared to other suburbs that are 20-25km from the CBD. Ringwood has a large shopping complex, good transport options with bus, train and of course the Freeways and Highways...