The “work from home” culture is still prevalent in many parts of Melbourne. Added to this is the surge in the living costs. Housing prices have also soared in these past few years. These factors combined have given a lot of Melbourne dwellers the reason to move out of the capital city and invest in houses in regional Victoria.
Additionally, the low-interest rates on home loans are also proving to be a lucrative incentive for people to buy homes in Victorian localities.
You must be wondering that with the number of choices available, which locality would serve to be economically profitable and feasible? So here, I have my top 5 picks enlisted below for you. So, let’s dive right in:
This suburb is approximately 61 square kilometers and 44 kilometers west of the Central Business District (CBD) of Melbourne. Drawing from the data from 30th June 2021, the population of the Eynesbury Township was estimated to be 3,214, showing an increase of 1.29% from 2020.
This locality with a beautiful vibe is an amazing place to have your own home. Eynesbury has all the options to explore from a large housing space for your family to relatively smaller cost-friendly areas, from a space having close distances to every other shop to remarkable townhouses, etc. This place is home to walking residential areas, lined with trees to keep you close to the lap of nature.
If you don’t know where to go looking for property options in Eynesbury, you can explore Eynesbury Estate – this is an affordable and smart choice to go for and you simply won’t regret it.
This regional pick is just 90 minutes away from Melbourne. COVID-19 was instrumental in increasing investments in Ballarat with more people buying affordable properties here and taking their work-from-home life forward. Ballarat experienced a robust increase of 17.6% in property values in 2021.
The period-style homes are fast getting snatched up at budget-friendly prices. Ballarat’s living conditions are definitely expected to improve and advance with over one billion being presently invested in massive infrastructural projects.
The government is placing great importance on the redevelopment of its roads, Ballarat Railway Station, and Ballarat Health Services Base Hospital. Alfredton, Soldiers Hill, Delacombe, etc. are good suburb options to invest in Ballarat.
This impressive pick is home to the amazing towns of Bright, Mount Beauty, Myrtleford, etc. The median property prices have witnessed a growth of 92.1% in Alpine over the last 5 years, undoubtedly attracting investors and home buyers.
This place bears remarkable potential as the tourism and agricultural industry is booming in Alpine. With a lot of retailers and service providers to choose from, you can stay rest assured that this place will look after all your possible needs.
Its picturesque views, various outdoor activities, restaurants, etc. make this choice a no-brainer.
4. Watsonia North
This locality is also another option brimming with the potential for growth. Not many changes have taken place in this area, but once investors and developers start seeing this as a viable option for development, it can generate unimaginable profits.
The median property price in Watson stands at $840,000. Being a resident of Watsonia North, you will never miss out on greenery and scenic beauty. This clean and quiet place, with its welcoming community, will make your living a very happy one.
This is another suburb that has seen an increase in property investment as a result of the pandemic. Investors are predicting a surge in housing prices over the next few years, so buyers are grabbing the current opportunities and investing in an affordable range of houses.
Geelong lies at a close distance from beaches making a relaxing retreat an option always in your hands. It doesn’t keep bustling with noise as opposed to other congested cities and people have a relaxed way of living.
Over to you…
Buying a house can be an overwhelming task especially when we are spoilt with choices. All you need to do is, do a little more research on prices, know more of what the suburb has to offer, match them with your choices and you are good to go!