VIC Victorian coastal towns vs inland regional towns in the next 12-17 years

Discussion in 'Where to Buy' started by johnmteliza, 20th Nov, 2018.

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  1. johnmteliza

    johnmteliza Well-Known Member

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    The North-eastern regional towns of Victoria continue to have stellar price growth performance. Key regional towns are acknowledged below.

    Real estate hotspots continue to emerge in regional Victoria: Hotspotting's Terry Ryder 8 April 2019

    Other Regional Victoria markets with growing signs of uplift include Wangaratta (up 14% to $315,000), Wodonga (up 3% to $350,000), Shepparton (up 5% to $275,000) and Bright (up 17% to $575,000). Another location that blipped on our radar screen recently, thanks to a client inquiry, is the town of Benalla, where the median house price has increased 10% in the past 12 months, but remains attractively cheap at $275,000.

    Real estate hotspots continue to emerge in regional Victoria: Hotspotting's Terry Ryder

    Many of the strongest markets now are regional areas — particularly in Victoria and NSW. “Shepparton in northern Victoria is one that took me by surprise,” he said. “And the reason it is doing so well is because it has a strong agricultural district in the Goulburn Valley — and that’s pretty strong as a local economy. “And, also there’s a big spend on a hospital and the roads that connect Shepparton with a major bypass, so that creates jobs and all this feeds back into the property market.”

    Suburbs to buy in right now
     
    johnmteliza, 5th May, 2019
    #61
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  2. MTR

    MTR Well-Known Member

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    I love Barwon Heads, could live here

    Thanks for great thread
     
    MTR, 24th May, 2019
    #62
  3. johnmteliza

    johnmteliza Well-Known Member

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    johnmteliza, 28th Jul, 2019
    #63
  4. geoffw

    geoffw Moderator Staff Member

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    Shepparton had been quite static for a long time, but I haven't seen it recently.

    A rise in the last year might just be a recovery from a dip a little while back - see the graph on
    YIP mobile

    One street in Shepparton bears my surname - it was named after my grandfather, who used to be a town councillor.

    It's a dead end street.
     
    geoffw, 28th Jul, 2019
    #64
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  5. johnmteliza

    johnmteliza Well-Known Member

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    From 2011 to 2015 it was holding its median house price of around $245,000. Since then it's been on an upward climb reaching $272,250 in 2018. As mentioned in the article the median house price is now $330,000. Domains suburb report even shows an annual gain of 12.1% in 2018 where the 4 bed median went from $346,000 to $388,000 today.

    Shepparton VIC 3630, Suburb Profile & Property Market Trends | Domain
     
    johnmteliza, 29th Jul, 2019
    #65
  6. geoffw

    geoffw Moderator Staff Member

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    Where I saw the dip and the small rise was in units - the number sold was much smaller than the number of houses, so not worth looking at.

    You've picked out 4 BR houses, but for 3 BR houses, where almost three times as many were sold, the price rise is very small. I'd suspect that the 3 BR house prices reflect the median level house closer to the town centre, whereas the 4 BR prices reflect newer houses, say around the river or golf course on the north side, Kialla area to the south. This might indicate that there is a demand for a higher standard of house outstripping the supply. The 12.1% rise you've mentioned is not typical of the market as a whole.
     
    geoffw, 29th Jul, 2019
    #66
  7. johnmteliza

    johnmteliza Well-Known Member

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    johnmteliza, 7th Sep, 2019
    #67
  8. alicudi

    alicudi Well-Known Member

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    alicudi, 7th Sep, 2019
    #68
  9. NWHT

    NWHT Well-Known Member

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    NWHT, 8th Sep, 2019
    #69
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  10. johnmteliza

    johnmteliza Well-Known Member

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    Bass Coast has experienced the 5th highest growth of all areas in Australia in the past 3 years at 38.3% (highest growth from May 2016 to May 2019). This the 2nd highest growth of any coastal area in Australia and also the 3rd highest of all regional areas in Australia. Bass Coast also had the 13th highest internal migration between 2017-2018.

    This is as well as Wangaratta in north-eastern Victoria, which has been recommended as a property hot spot recently. Wangaratta's median house price has already risen 14% in the past year. Wangaratta is really a rarity with high growth and affordable house prices. It was mentioned as the best value for money and top area in Victoria based on affordability. Wangaratta had achieved a gross rental yield of 7.6 per cent and was a stand out for REIV. Still a really strong market. REIV says investors receive on average a 5.4 per cent return on a three-bedroom house in Wangaratta (One of the best returns in Victoria).

    Property market research firm Propertyology also recommends Wangaratta as a future property hotspot in Victoria. Wangaratta is a top area benefiting from internal migration too which supports property prices. More so it was stated that Wangaratta is gaining from a strong local economy and the ripple effect. Effie Zahos finance journalist of Money Magazine also said "Wangaratta's three year growth forecasts are ranging from about 15-20%; so they’re expecting good things to come out of that.

    Since February 2019 multiple articles have been published specifically mentioning Wangaratta (north-eastern Victoria) and Bass Coast/Phillip Island as growth hot spots for 2019 and beyond. Regional Victoria has been the strongest market in the nation for a while now. Bass Coast and Wangaratta have experienced over 200% growth over the past decade which really shows its long term prospects.

    capi_cba9b30040cf11a91c4a1b78f11c2c75_3be473937af40c3d9b00f5d906d16416.jpeg

    Here are some articles which explain this in more detail

    The 53 housing hotspots property researcher believes will skyrocket

    Victoria’s top performing cheapie suburbs

    The Regional Areas Popular for Interstate Migration

    Regional Victoria remains stand-out market, but sales activity drops: Hotspotting's Terry Ryder

    Best place to invest: Report names Warrnambool among best for investors in state

    Over 100 markets with 200% growth revealed in new analysis - Smart Property Investment

    Regional ‘cheapies’ best bets for investors

    Experts Are Predicting A Property Market Boom In Australia's Most Unlikely Suburbs

    Real estate hotspots continue to emerge in regional Victoria: Hotspotting's Terry Ryder

    Regional Victorian leads the nation in house price growth: Hotspotting's Terry Ryder
     
    johnmteliza, 10th Sep, 2019
    #70
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