Victorian regional cities booming as Geelong leads the way

  • By Peter Gordon
  • •
  • 05 Nov, 2020

Great article to read for our clients who have purchased in Armstrong Creek, which is only 11 km from Geelong and also our Ballarat clients.

COVID-19 is closing the gap between homes in regional Victoria and Melbourne, with new figures showing Geelong, Ballarat and Bendigo are booming and growth is set to continue.

But Warrnambool and its surrounds emerged as the state’s surprise winner for price growth in the past three months, according to a new realestate.com.au report that has good news for towns from Mildura to Wodonga.

The findings in the REA Insights Regional Australia Report 2020 were buoyed by a 60 per cent surge in search figures for homes outside of Melbourne since March this year, while numbers in the state’s capital have barely moved.

Realestate.com.au chief economist Nerida Conisbee said while an end to Melbourne’s lockdown would improve the city’s outlook, it was unlikely to keep pace with those on its fringes in the near future.

“The gap between regional Victoria and Melbourne is closing and COVID-19 is really accelerating that,” Ms Conisbee said.

“Regional Victoria is likely to outperform Melbourne in the short-to-medium term.

The report show’s Geelong was the nation’s most successful regional area in the past five years, outgrowing every other as its population rose 14 per cent to the end of 2019.

The city’s house prices jumped 43 per cent ahead of 2015 levels to $610,000, the third biggest lift outside a capital nationwide.

An 8.5 per cent increase to 162,918 residents marked the Bendigo region as the nation’s fourth fastest, while the Ballarat area’s 8 per cent population rise to 167,552 was fifth.

Both are expected to have prices rise, with Ballarat home to a $425,000 median house price and the nation’s fourth-fastest regional rise in views per listing from March to September, while Bendigo had the seventh biggest rise and a $415,000 median.

But while Geelong didn’t make the top 10 in that regard, its easier access to Surf Coast beaches and significant government infrastructure spending linking it to Melbourne are expected to keep it ahead.

“Until there is a bit more government spending I don’t think they will take off the same as Geelong,” Ms Conisbee said.

But the real surprise from the research was Warrnambool and its surrounds, where the median house price rose 5.8 per cent to $340,000 between June and September — a jump only exceeded by regions in New South Wales and Western Australia.

Ms Conisbee said the positive figures were hard to explain, but certainly showed the region had benefited during the months spent fighting COVID-19.

The report also shows Victorian investors made the most inquiries for homes in Mildura, Shepparton and Wodonga between April and September this year.

Professionals Mildura director Tony Roccisano said the city had been through an “unbelievable” year so far.

Article courtesy Herald Sun 5th Nov 2020

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Introducing The Palms Estate, Cairns - The Northern Beach's Premier Address

By Peter Gordon • April 26, 2023

Quiet simply, the Palms is the place to buy!

The northern beaches of Cairns is the Nation's best location for property investors right now, and The Palms is the premier development in this boom region.

It has the best location being elevated and backing onto the rainforest. It will have amazing facilities with a shopping village, a primary school, parks and green open space, a water park and an expanse of wildlife corridors.

It has taken the developers three years to get planning approval for this unique development to be able to hit the market. There are only 300 lots spread across 85 acres of the best land in The Northern Beaches.  Residents will have an abundance of open space right at their doorstep.  The Palms is also the only Certified Enviro Development project in Far North Queensland.

> Cairns Snapshot

In the rivalry between Sydney and Melbourne, the winner is ... Brisbane

By Peter Gordon • April 20, 2023

Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).

Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.

Time  magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time  magazine?). But they might be onto something.

Time  points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.

Time’s  most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).

Incredible Lifestyle At An Affordable Price  Equity of approx $390K on completion

By Peter Gordon • April 6, 2023
This small duplex development just a short drive from Hervey Bay on Queensland’s beautiful Fraser Coast, offers an incredible lifestyle at an affordable price. With unprecedented demand and very limited supply, prices look set to skyrocket.

A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.
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