We mean this literally.

Regional Australia is being spoken about for a number of reasons; growth in employment and infrastructure, enhanced connectivity to CBD’s and major cities, widespread affordable property options, quality schools and recreational choices, the list goes on.

There are many benefits for buyers and investors to consider regional areas, in particular, regional Victoria.

The key benefit for first home buyers in regional Victoria: $20,000 first home buyers grant (instead of $10K) – this is from July 1, 2017, and is applicable to homes valued at up to $750,000.

Key benefit for investors in regional Victoria: affordable investment opportunities in areas with high and growing rental demand

Regional Victoria is delivering dividends for investors with every property type in regional Victoria recording a higher rental return than metropolitan Melbourne.” REIV, May 2017.

An example of a regional city making headline is Ballarat, located just over 100kms from Melbourne’s CBD.

Benefits of buying or investing in Ballarat:

Employment and infrastructure

There are over 12,000 registered businesses in Ballarat creating sustainable local job opportunities for residents. Add to this an additional estimated 9,000 jobs to be created as a result of The Ballarat West Employment Zone (BWEZ) developments and you can appreciate why this regional area is the fastest growing in Victoria and New South Wales.

High rental demand

The City of Ballarat’s population forecast for 2017 is 106,288 and is forecast to grow by almost 40% to 149,197 by 2036. Population growth, as well as the influx of jobs growth, and not to mention affordable housing, is positioning Ballarat as an area with high rental demand.

Affordability

Ballarat is affordable. There are currently many opportunities to buy and invest. The right time is now with the current median price for a house in Ballarat sitting at an affordable $405,000.

Data source: realestate.com & RP Data 4.07.2017

To talk further about buying or investing in regional Victoria, have a chat to WhiteStar Property. Call 1300 652 842.