Regional Victoria suburbs are experiencing a major price increase boom!
Research shows that properties are earning four times more than the average income of regional homeowners. This is thanks to sea and tree change buyers accelerating their move to regional towns due to the pandemic.
The boom is widespread and includes, but is not limited to the surf coast, Bellarine Peninsula, alpine regions, Daylesford area, Phillip Island and its surrounds.
As more people are working from home, they can see the benefit of moving away from metropolitan Melbourne and only coming down once a week should the need arise. There are some great schools in regional Victoria along with wonderful facilities so the kids are also covered. Buyers are seeing that the work-life balance is achievable sooner than they had anticipated for their families and are taking advantage of the situation.
We are, however, seeing a supply/demand issue as there just isn’t enough properties on the market, so buyers are looking at nearby or “next best” suburbs with the option of being able to move to their ideal location should the opportunity arise.
If you are looking to make a lifestyle change to regional Victoria, now is the time as there is no indication of prices cooling down. In fact, with summer around the corner and restrictions easing you can expect things will only heat up!
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less.
We do offer our negotiate service for those buyers in the market looking to pounce on opportunities that arise. Get in touch if you’d like to know more.
Ask about our Home Buyer Search and Acquisition Service, where we do all of the legwork on your behalf to MAKE IT EASY to secure your new home.
Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
