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Traralgon is ranked as one of the top suburbs for its affordable lifestyle.
Urban home seekers fleeing the smoke are buying family-friendly lifestyles and cheap housing in Shepperton and Latrobe Valley, making real estate a hot commodity.
As the median house price remains between US$220,000 and US$500,000, real estate guru Terry Ryder said that they will remain in strong demand for the foreseeable future.
In his latest report, the founder of Hotspotting listed the Shepparton and Latrobe Valley regions as the top 10 regions in the country because he referred to this growth trend as “the exodus to affordable lifestyles.”
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Di and Michael Popof recently moved from Narre Warren to Traralgon.
The couple decided to go to the area to enjoy a relaxed lifestyle…
…And reasonable prices.
They now live in this modern three-bedroom house.
Mr. Ryder said that moving out of urban areas and moving to regional centers is the “largest single impact” on Australian real estate this century.
“This trend is not caused by the pandemic, it is already underway, but the pandemic has turned a trickle into a stampede,” he said.
The report praised companies such as Kialla (median house price of US$500,000), Mooroopna (US$265,000), Shepparton (US$320,000), Churchill (US$240,000), Moe (US$270,000), Morwell (US$220,000), and Traralgon US$5 ( 5 USD) and other towns with growth potential and strong returns.
Mr. Ryder said that they also have future jobs and infrastructure prospects and other attractive lifestyle factors, such as larger land areas, which many buyers have realized and purchased.
The offer for 3 Elm Terrace in Shepparton was US$445,000.
Mr. Ryder said: “Melbourne has been losing people to remote areas for about three or four years-and technology has given people the freedom to work remotely, as well as being driven by the pandemic, which has made more people aware of this.”
“Owners can sell real estate in capital cities and buy things of the same standard in an area or lifestyle area for half the price-either drastically reduce mortgages, or use the remaining money to find out that they don’t have a mortgage.”
He added that since the vacancy rate is less than 1%, such a market also provides investors with a wise choice.
Keith Williams Traralgon’s real estate agent James Hourigan said the town was “crowded” with new immigrants.
3 Tyrrel Crt, Kialla sells for 750,000-825,000 US dollars.
He said that real estate prices have soared and houses were sold within a few days.
“I put (a house) on the market on Saturday and sold it on Tuesday,” he said.
“I think you will also find that Traralgon has a very low base-but you can buy a very decent, very livable house for less than $400,000.”
Retirees Di and Michael Popof recently moved to Traralgon after selling the house they had lived in Narre Warren for 37 years.
The two had always hoped to downsize in Pakenham or Drouin, but drove to Traralgon to convince them to see further.
They are now enjoying the relaxed lifestyle provided by the regional center, including playing golf and meeting other people in the community.
“The town has everything you need-like a small city,” Ms. Popov said.
“It has a great hospital, you have to see it as you get older, and everything is within easy reach.”
The list price of 150 Vincent Road in Morwell is $229,000.
Ms. Popov added, “The biggest benefit is what you get with dollars.”
“Even in Naré Warren, a house like ours costs a lot of money. [but in Traralgon] You will get a lot of rewards,” she said.
Other regional centers, including Ballarat, Bendigo, and Albury/Wodonga, are listed on the “Category B list” of regional hotspots to watch, with amenities, growth, and low housing prices. Contributed to its potential.
Mr. Ryder also predicted that Gippsland and surrounding areas will become one of the next regions to benefit from a surge in popularity.
By number:
Shepperton Region
best choice
why
131 homes sold in the past 12 months
Median house price $500,000
19% increase last year
4% average growth rate
4.3% median yield
Murupna
143 homes sold in the past 12 months
Median price of $265,000
4% increase last year
2% average growth
6.2% median yield
Shepparton
580 homes sold in the past 12 months
$320,000 median house price
13% increase last year
2% average growth
5.4% median yield
Latrobe Valley
best choice
Churchill
124 homes sold in the past 12 months
Median house price $240,000
Increased by 27% last year
4% average growth rate
5.9% median yield
Cute
198 homes sold in the past 12 months
Median house price $270,000
Increased by 21% last year
6% average growth
5.4% median yield
Morwell
411 home sales in the past 12 months
Median house price 220,000 USD
Increased by 24% last year
4% average growth rate
6.2% median yield
Newborough
127 homes sold in the past 12 months
Median home price of $315,000
Increased by 24% last year
5% average growth rate
4.8% median yield
Traragon
611 homes sold in the past 12 months
Median price of $355,000
11% increase last year
3% average growth rate
5.3% median yield
Source: Hotspotting’s Exodus to Affordable Lifestyle report, June 2021
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