Tatura iden­ti­fied as real es­tate hot spot

The Tatura Guardian - - Front Page -

met­ro­pol­i­tan falls, but par­tially be­cause of them.

‘‘In­vestors are com­ing out of Mel­bourne and bleed­ing us dry of our ex-gov­ern­ment houses,’’ Mr Blake said.

The Greater Shep­par­ton re­gion, and re­gional Vic­to­ria in gen­eral, presently of­fer much bet­ter in­vest­ment op­por­tu­ni­ties than the metro mar­ket on mul­ti­ple fronts ac­cord­ing to Mr Blake, who is also an es­tate agent at lo­cal firm Youngs & Co.

Lo­cal prop­er­ties are ap­pre­ci­at­ing, not de­pre­ci­at­ing, and this is their first sell­ing point.

Then there are rental yields, the amount a prop­erty can rent for rel­a­tive to its costs and price.

‘‘A gross rental yield just for Shep­par­ton alone is about 5.3 per cent with a me­dian rate of about $230 a week,’’ Mr Blake said.

Rental yields in Mel­bourne are sit­ting be­low three per cent on av­er­age.

Other fac­tors such as the $20 000 first-home owner’s grant for re­gional ar­eas and the rel­a­tively lower cost of buy­ing a house also come into play, ac­cord­ing to Mr Blake.

The com­bi­na­tion of ap­pre­ci­at­ing prices, high rental yields and lower prices are driv­ing a strong lo­cal mar­ket. Rental va­cancy rates are also low.

‘‘Our va­cancy rate at the mo­ment is about 1.6 per cent for rentals; for ev­ery 1000 homes that are for rent there’s only 16 avail­able,’’ he said.

‘‘And this time of the year there’s a lot of job move­ment and there’s a strong de­mand for rentals.

‘‘We got back to work ( on Wed­nes­day, Jan­uary 2) and in­quiry for in­spec­tions for homes that we have has just been amaz­ing.

‘‘The Greater Shep­par­ton area, par­tic­u­larly Mooroopna, will con­tinue to be a strong area to live and re­side in and a great in­vest­ment.’’

Pic­ture:

Michael BlakeHolly Daniel

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