Two sides to rising property value

Adramatic rise in the value of property across the region comes as a double-edged sword.

From an overwhelmingly positive perspective, a dramatic rise in the cost of houses and land in our regional centres reflects a response to obvious demand – which in turn suggests people are both keen to invest and live here.

There is a strong argument that it is a position that can only, in the long term, feed a strong and healthy over-arching economic environment, growth and vibrancy.

A busy community where people are active and spending money is usually a healthy community that is moving forward.

But, as always, much depends on individual perspective.

For many there is also an equally strong argument that the blossoming value of property threatens the long-held Australian

dream of being able to own your own home.

And this circumstance, familiar to and a by-product of other parts of Australia that have enjoyed economic vibrancy, might be emerging stronger than ever in our own back yards.

The rapid rise in land and house prices, sometimes fuelled by property investors, must be intimidating to young couples or families trying to transfer to or considering shifting from a rental to mortgage environment. It’s tough.

This socio-economic glass half-full or half-empty scenario and a society need to cover as many demographic bases as possible, is why a need for social housing has gained momentum in the region.

It is also one of the reasons municipal councils, apart from trying to seize obvious development opportunities, have been working feverishly to open the door for new residential sub-divisions.

To the layperson, considering all the schemes, processes, predictions, perceptions and other influencing factors in the property market, it all appears rather perplexing.

In the past the issue was all simply based on interest rates. Perhaps this, to some degree, remains the case.

There are plenty of commentators and development leaders talking about change sweeping through the regional Victorian landscape.

We can only ponder whether this is all part of an evolution.