City gets investor nod
GREATER SHEPPARTON AMONG TOP PROPERTY PICKS, ACCORDING TO ANALYST
Greater Shepparton has caught the eye of a top property analyst, who argues the local government area is a particularly exciting prospect for investors, given its location, affordability and industry.
Specialist researcher and writer on Australian residential property Terry Ryder says Shepparton will benefit from a dominant trend that’s seeing buyers leave cities behind for a lower mortgage and better lifestyle in regional areas.
“Shepparton, I think, is particularly appealing and has very strong growth prospects,” he said.
“Residential properties are cheap and vacancies are low, providing good opportunities for investors.
“Shepparton is also about to become the heart of a major renewable energy zone, as the Victorian Government strives towards clean energy. A plethora of proposed solar farms is boosting job prospects for a growing population.”
Mr Ryder, who has four decades of experience in the field, recently completed a major analysis of property markets across Australia to determine which markets across capital cities and regional areas were most likely to show strong price growth in the future.
The top three markets to emerge from that data were all regional areas.
“I can’t say that I’m surprised with that outcome,” Mr Ryder said.
“Of the many different forces feeding the nationwide property boom that’s currently sweeping the nation, I have no doubt that the biggest of them all is a trend that I call the ‘exodus to affordable lifestyle’.”
According to Mr Ryder, advanced technology, remote work and the desire to find a better lifestyle at an affordable price have enabled the exodus for years.
“It’s been turbo-charged, however, by the pandemic, and now more and more Australians are looking for hill-change or seachange enclaves,” he said.
In an October report for hotspotting.com.au Mr Ryder identified Shepparton as one of his top 10 locations that he expected to benefit significantly from migration to the regions.
He pointed to the fact Shepparton’s industry revolved around dairying, fruit growing, cattle, sheep and manufacturing.
“All this primary produce is exported to international markets and therein lies the clue to Shepparton’s future — transport,” he said.
“Strategically located on the intersection of the Midland and Goulburn Valley highways, both road and rail access easily links to Melbourne, Adelaide, Sydney and Brisbane and export markets.
“Around two billion dollars is currently being spent on road and rail upgrades while a major freight logistics centre is under construction, delivering improvements for both passenger and freight transport.”
Toowoomba, Orange and Warrnambool were three more regional cities regarded favourably in Mr Ryder’s research.
Mr Ryder said regional properties offered investors “more bang for their property buck”.
“Property owners can sell up in a capital city and buy something of the same standard in a regional or lifestyle area for half the price — and either significantly reduce their mortgage or find themselves mortgage-free, with money left over,” he said.
“That’s a very appealing proposition, particularly for young people starting out who are looking for a realistic way to enter the property market.
“The more the government pours money into improving transport connections to regional towns, the more this trend will take hold and the big infrastructure spend evident in the federal budget provides evidence that there is plenty more of this to come.”