With this in mind read our guide to the hottest regional markets in Victoria for property investment in 2019, so you can make an informed decision and maximise your ROI. Median weekly rents in regional areas are currently $340, and you can expect a rental yield of 4.3%. This was down to a number of factors, including affordability and diversifying local economies - which can make them an attractive lifestyle option or investment opportunity. The Ballarat market will remain positive and median house prices are forecast to rise a cumulative +6.9% to reach $385,000 by June 2021. Gippsland is popular for its sports activities like water skiing, surfing and snow skiing.
This is reflected in Hume's population growth, which is projected to grow by over 38% before 2031. In contrast, the city's outer ring suburbs are projected to rise a healthy +6.2% over the same timeframe. The median house price is currently $412,500, while units are at $260,000. ^Note: When a property is sold, the successful real estate agent pays OpenAgent a referral fee, which is at a standard industry rate of 20% of the agent's commission. Geelong’s median house price is forecast to grow +2.6% in 2018/19, before it cools to reach a median price of $550,000 by 2021. If you are looking for the best regional markets in Victoria, make sure you research Ballarat (+8.3%), Geelong (+8.2%) and Bendigo (+4.5%) - which all recorded solid positive growth in dwelling values over 2018. Houses here rent out for $313 per week while you can expect to charge $275 per week for a unit. Find out how to apply for a regional visa. They forecast median house prices to grow +8% by June 2022. *The number of 2 million Australians is based on the number of users visiting OpenAgent according to Google Analytics for the period of 01/08/2019 to 31/07/2020. Property analysts Hotspotting recommends identifying suburbs and towns with several consecutive quarters of rising sales activity. Best suburbs to invest on the Gold Coast in 2020, Best regional QLD areas for property investment 2020, OpenAgent compares local agent sales and thousands of reviews to help you find the best agent. From world-class wineries to natural springs, lush mountain ranges to stunning coastlines, famous roads to national parks – Victoria is full of beauty and wonder waiting to be discovered. Looking for the secret ingredient that will help identify areas in regional Victoria with high growth potential?
Opened in 1970, Sovereign Hillis an open-air museum set in Ballarat’s 1850s gold rush era. A vendor will be advised when one of these agents has been recommended, and will still be able to see the full list of recommendations at any time. Gippsland offers a variety of natural attractions for residents and visitors to enjoy: clean beaches, pristine rainforests, snowfields, hiking and riding trails, wineries and more. As we farewell 2018 and move into the new year, you may well be considering investing in the Victorian real estate market, or even selling your current investment property. "Median house prices in Mount Pleasant, a suburb in regional Ballarat, climbed +21.31% for the YTD". Area Directions identify areas within Victoria which have a higher prevalence of, or risk of exposure to, coronavirus (COVID-19) and which are subject to specific directions which are reasonably necessary to protect public health. Another one to watch for is residential construction activity, which is a sure sign of an upswing. Both centres also offer a more relaxed lifestyle than Melbourne, as well as better rental yields. Best regions in Queensland for property investment in 2019, OpenAgent compares local agent sales and thousands of reviews to help you find the best agent. Hume hosts a number of festivals and events throughout the year such as the Bright Autumn Festival, the Wangaratta Festival of Jazz and the Australian Superbike Championship in Winton. The Loddon Mallee Region occupies more than a quarter of Victoria.
Low vacancy rates indicates there is strong demand for rental property in an area.
Journey through our pristine forests; witness the dramatic scenery of our mountain ranges; taste the exotic flavours of our gourmet produce; walk along our many hiking trails; enjoy our many rivers and lakes; visit our many towns and attractions. QBE’s Australian Housing Outlook 2018-2021 forecasts the following for the most promising regional markets across Victoria: The Victorian market is too diverse and complex to analyse as a whole, so answering this question is not that easy. The Loddon Mallee Region has a growing economy in tourism, horticulture and manufacturing. Visit some of Victoria’s most famous town centres such as Bendigo, Castlemaine and Mildura. Skip to region listing. Best regional areas in Victoria to invest in property 132km away from Melbourne, Bendigo is a regional hotspot where vacancy rates are low, DoM are short and employment is steadily growing.
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