Property Market Outlook for Mildura LGA, VIC

Mildura is a regional city of Victoria with a population of over 53,878. Mildura is located 475 kilometers north west of Melbourne, about half way between Adelaide and Melbourne. The city is famously known as a major horticultural centre notable for its grape production. It supplies 80% of Victoria’s grapes.

The key industries within the LGA are dryland farming, irrigated horticulture (table grapes, wine grapes, dried grapes, citrus and vegetables), tourism, food and beverage manufacturing, transport and logistics, retail, health and community services

In 2016, 61% of the working population worked full-time and 28% part-time.

More Mildura Rural City residents worked in retail, health care and social assistance than any other industry in 2016.

Property Market Outlook for Mitchel Shire, VIC

Mitchell Shire is located in central Victoria, about 30-90 kilometres north of the Melbourne CBD and is one of the fastest growing regional municipalities in Victoria.

The city had a population of 46,082 as of 2019 and is expected to reach 270,000 in the next 25-30 years. Most growth is expected in the southern townships of Beveridge, Kilmore, Kilmore East and Wallan.

18,407 people living in Mitchell Shire in 2016 were employed, of which 62% worked full-time and 36% part-time.

More Mitchell Shire residents worked in construction than any other industry in 2016 and features a large portion of technicians and trades workers.

In Mitchell Shire there were 452 residential buildings approved to be built in the financial year 2019-20 Feb FYTD.

Property Market Outlook for Hume City, Victoria

Hume City is a part of the Melbourne metropolitan area and is one of the fastest-growing and culturally-diverse communities in Victoria. The city is situated on Melbourne’s north-west fringe, between 15 and 45 kilometres from the Melbourne CBD.

The city had a population of 233,471 as of 2019 and residents come from more than 160 different countries and speak approximately 140 languages.

It is made up of a mix of new and established residential areas, major industrial and commercial precincts and vast expanses of rural areas and parkland. The Melbourne International Airport accounts for 10 per cent of the total area of Hume City.

Property Market Outlook Wyndham City, VIC

Wyndham City is located in the outer south-western suburbs of Melbourne and is one of the fastest growing areas in Victoria.

Compared to the national average, there is greater buyer demand for houses in Wyndham City compared to units.

Across Wyndham City, the greatest demand is for three and four bedroom houses, with two and three bedroom units making up only a small portion of the demand profile in the area. There is also some small demand for three bedroom semi-detached housing.

Four bedroom homes makeup the largest demand sector of the market in Wyndham City.

As of Q2 2020 the rental gross yield for houses and units is 3.66% and 4.55% respectively, with (gross) yields on houses rising by 1.22%…

Property Market Outlook for Greater Geelong, VIC

Today, Geelong stands as an emerging health, education and advanced manufacturing hub although the region has lost some of its heavy manufacturing operations in recent years.

Population increases over the last decade were due to growth in service industries, as the manufacturing sector has declined. Redevelopment of the inner city has occurred since the 1990s, as well as gentrification of inner suburbs, and currently has a population growth rate higher than the national average.

Greater Geelong has been growing steadily with 2019 seeing 2.66% growth. Compared to the national average, there is greater buyer demand for houses in Greater Geelong City compared to units.

Across Greater Geelong City, the greatest demand is for three- and four-bedroom houses, with two- and three-bedroom units making up only a small portion of the demand profile in the area.

Three-bedroom homes makeup the largest demand sector of the market in Greater Geelong City. However, there is strong growth in demand for rental units, with the rents growing at 3.76% since Q2 2019. As of Q2 2020 the rental yield for houses and units is 3.21% and 3.99% respectively.

Property Market Outlook for Greater Bendigo, VIC

Bendigo rose to prominence in the 1850s as one of the key areas that benefited from the Victorian gold rush. During the 19th century it was the highest producing goldfield in Australia and the largest gold-mining economy in eastern Australia.

The main retail centre of Bendigo is the central business district, with the suburbs of Eaglehawk, Kangaroo Flat, Golden Square, Strathdale, and Epsom also having shopping districts.

Greater Bendigo has been growing steadily with 2019 seeing 1.77% growth.

Compared to the national average, there is greater buyer demand for houses in Greater Bendigo City compared to units.

Across Greater Bendigo City, the greatest demand is for three and four bedroom houses, with two and three bedroom units making up only a small portion of the demand profile in the area.