Latrobe Valley - Regional Victoria
Buyer demand has slowly rippled eastward from Melbourne in the last few years, leading to increased activity in towns across the Latrobe Valley. Affordable prices, good rental yields and a country lifestyle are attracting home-buyers and investors to the region.
Traralgon, Churchill, Moe and Newborough have all demonstrated price growth in the last 12 months as the local economy diversifies away from the resources sector.
Numerous projects which are generating jobs are under way – the hospital, schools and sporting complexes are being upgraded, a GovHub is being established and unemployment has fallen.
On a larger scale, the approval of an undersea power cable linking Latrobe Valley to north-west Tasmania promises to generate up to 1,500 local jobs.
The Defence Force is relocating its pilot training academy to nearby Sale, the Gippsland rail line is being duplicated in several sections and there are plans to establish an electronic car-making factory in the region.
With several locations having median house prices below $250,000, affordability is a huge bonus, especially for first-home buyers.
This report covers the towns of Churchill, Moe, Morwell, Newborough and Traralgon.