Our Backyard

The Real Estate Institute of Victoria has released figures showing median prices in regional Victoria over the past year increasing by 29% in some areas and plunging by almost 8% in others.

The year’s biggest winner was the Surf Coast Shire, which had a median price increase of 29% to $600,000.

According to this month’s Herron Todd White Westpac property report, prices for vacant land in regional Victoria remain strong, due to a lack of supply and increase in demand.

This is particularly evident in areas like Aireys Inlet, Fairhaven and Moggs Creek, where expansion of the town’s boundaries have been capped, therefore pushing up the prices of what is available.

James Worssam
0418 585 815

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