Balarat is expected to see stronger house price growth. (real estate website Realestate Pictures)
According to real estate website Realestate, Virginia buyers should focus on some of the state`s former gold rush areas if they want to profit from the real estate market.
The central area of Victoria`s remote areas is the best choice for buyers who want the value of real estate to rise in the next three years, according to the Kunzhou Insurance Group Housing Market Outlook (QBE Housing Outlook) report. By 2022, such areas will drive the recovery of the Virginia housing market.
Among them, Balarat (Ballarat) prices are expected to rise 8 percent over the next three years, with a median price of A $425000. Nicole (Francesca Nicol), head of Biggin & Scott Balarat, a real estate agency, said the rapid train construction plan to the center of the town gave people "confidence to act in the region."
Prices in the region are expected to rise faster than Melbourne, which expects to grow 5 percent over the same period, with a median price of A $810000.
Bendigo (Bendigo) is also an area that offers returns to investors and first-time buyers in leave Melbourne. (real estate website Realestate Pictures)
In addition, Bendigo (Bendigo) is also able to provide returns to investors and first-time home buyers in leave Melbourne. By mid-2022, median house prices in the town are expected to rise by about 7 per cent, with a median price expected to reach A $395000.
Isax (Tom Isaacs), head of Bendigo, a real estate data research firm, said house prices were affordable, good rent returns and vacancy rates of no more than 1 percent, advantages that had attracted investors to Melbourne during the recent housing recession.
During the same period, Geelong`s house prices grew slightly behind other remote areas, with a 4%increase expected, with a median price of$540,000.
White (Phil White), chief executive of mortgage insurance at Kunzhou Insurance Group, said Victoria`s population growth would outpace other states in Australia over the next five years, which would increase demand for real estate. He believes that while house prices are showing signs of stabilization, the Melbourne market may still experience some volatility.
In Melbourne, prices fell by 11.4% last year, according to an understanding.
