The Regional Suburbs To Star in 2019
Whilst we are seeing and reading “doom and gloom” in the major cities, the housing market in regional areas look promising. According to research firm Propertyology Bairnsdale is one of the housing hotspots to watch in 2019.
Whilst the Sydney Median house price was down 8.9% and Melbourne down 7% according to CoreLogic’s Hedonic Home Value Index for the 12 months, Latrobe-Gippsland sub-region was up 8.7%.
An article by Isabelle Lane of the New Daily is quoted as saying “While Melbourne’s days of price growth are now in the rear-view mirror, there’s a healthy list of regional Victorian markets with good potential.”
Mr Pressley from Propertyology said Victoria’s best buying opportunities “for the foreseeable future” would be in regional cities and towns, singling out Bairnsdale, Shepparton, Warrnambool, Ballarat, and Bendigo.
He said Bairnsdale was on the cusp of beginning its growth cycle, while the others were in the early stages.
Continuing low interest rates, good employment opportunities, plenty of attractions for retirees and holiday makers combined with very affordable housing all contribute to the reason for East Gippsland being a focus for investors, retirees and all home buyers.
King & Heath First National have continued to see strong sales and leasing activity throughout the calendar year and at the end of 2018 we conducted 560 sales on behalf of our vendors and leased 525 on behalf of our landlords.