Gippsland's proximity to Melbourne helping land prices, but still affordable: HTW
The Gippsland region stretching from Melbourne's eastern outskirts to the state border in Victoria's far east was at the start of the recovery period in Herron Todd White's March property clock, which also offers a peak into gentrification.
Sale/Traralgon
Sale rentals have hit some of the highest returns in years. With strong industries and the RAAF base this is expected to be maintained.
Traralgon land prices in popular estates are at very affordable values compared to three to five years ago. This area has consistent housing construction at affordable prices.
Warragul/Drouin
Warragul and Drouin estates are growing with more land available and values increasing. Increasing demand in this location is due to its proximity to Melbourne.
Koo Wee Rup/Lang Lang
Koo Wee Rup and Lang Lang land values have increased in the past six to 12 months with construction demand strong and building prices very affordable. The reasons for the increasing demand include the area’s close proximity to Pakenham and being only 45 minutes to Melbourne.
Property Observer found a three-bedroom unit with a garage at 1/25 Henshall Street, Warragul, Vic 3820 (above) which was sold for $215,000 through Steadfast Real Estate.