With the Victorian government plan to de-centralize Melbourne and move some industries out of town due the massive population growth its experiencing, a lot of property investors are looking towards regional towns to purchase their next property investment in.
If you look at the growth that some of the houses in regional towns like Geelong, Ballarat, Bendigo, Shepperton have experienced in the last 3-5 years you can quickly see that some think is going on. Large parcels of land in these towns have been rezoned to residential land to make way for the influx of people moving into these regional areas as the cost of property continues to blow out in the Melbourne suburbs.
In some of these towns and others in regional Victoria you can still buy a house at approximately 50% of the cost of the medium Melbourne property price, which in turn makes the rental yields for property investors a more attractive option than buying in some Melbourne suburbs.
With the increased demand and pressure on the government to provide affordable housing options the regional towns are looking good and will continue to expand, with the jobs and industry quickly moving out to these towns. As more businesses relocate to regional towns the demand for housing will continue and property investors are the ones who will benefit.
So, is buying an investment property in regional Victoria a good idea? In my opinion it’s a big Yes, I think that there are some really good buying opportunities. You still need to do your research carefully and don’t rush into buying anything, take your time and make a well-informed decision before buying.
Click on the links below to see the future of regional Victoria.
https://regionalliving.vic.gov.au
https://www.rdv.vic.gov.au
