Latrobe Valley - Regional Victoria
Buyer demand in the Latrobe Valley is now outstripping supply as owner-occupiers compete with investors in one of the most affordable parts of regional Victoria. The appeal is further enhanced by a country lifestyle (for home buyers) and strong rental yields (for investors).
Traralgon, Churchill, Moe and Newborough have all delivered good price growth in the last 12 months as the local economy diversifies and strengthens.
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.