Latrobe Valley - Regional Victoria
Low prices and a country lifestyle are attracting home-buyers and investors to the Latrobe Valley. Sales activity continues to rise and prices are reacting to the uplift in demand.
Traralgon, Churchill, Moe, Morwell and Newborough all have growth markets, coinciding with the creation of new jobs as the Latrobe Valley evolves away from the resources sector and builds a more diverse economy.
Numerous small projects to support small business and manufacturing are under way, 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 900–1,500 local jobs.
The Defence Force is relocating its pilot training academy to nearby Sale, the local hospital is being redeveloped in a $217 million project, 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 most locations having median house prices below $200,000, affordability is a huge bonus, especially for first-home buyers.
This report covers the towns of Churchill, Moe, Morwell, Newborough and Traralgon.
The Latrobe Valley was Hotspot of The Week on January 15, 2019.