Gippsland benefiting from rising capital city property costs
Latrobe City and Baw Baw are experiencing strong price growth on the back of buyers being priced out of the expensive capital city markets.
New research from CoreLogic RP Data has revealed a lift in transaction levels and median values in some of Gippsland’s towns along the M1.
With good access to employment up and down the inner and outer south east corridor, people are increasingly seeing the value in moving out further, finding more pace, a better and more affordable lifestyle.
LandGipps Director David Sowerby said, “We are now finding that traditional growth corridor towns such as Pakenham, Cranbourne, Berwick and Narre Warren are pushing over the $600,000 mark for an average 4 bed house land package on an allotment over 500m2. In Drouin we can still find the equivalent house land package for $375,000, Warragul for $400,000 and Moe and Morwell for $325,000. All of these towns have access to strong employment opportunities within the towns themselves as well as a freeway commute east and west up the M1. The search for value for dollar is then being consolidated once people take the time to recognise the better services provided within these towns and the strong sense of community that prevails in the regions. Education, open space, sporting clubs, farmers markets, clubs and associations are all alive and thriving in Gippsland driven by a solid sense of interaction with and care for your neighbour. This strong sense of belonging to a community combined with the lesser mortgage is presenting as a much better value option when compared to the city.”
To understand more about the better value offering the these towns present, contact LandGipps 1300545263 or email us at email@example.com