TraralgonQuarterly Regional

Market Report

With Spring on the horizon, we are about to enter into the most popular time of the year to buy and sell property, and as such, we can expect to soon see a flurry of activity all over the state. While winter has been considerably quieter than previous years, our agency has continued to deliver outstanding results and we are already beginning to see a number of new listings throughout the area as savvy sellers prepare to take advantage of the many benefits of buying and selling property in Spring. Despite challenges across the industry, Winter has proved to be successful for Wilson Property. We sold 48 properties, most of them through either private sale or off market. The highest selling price we achieved was $710,000, for a lovely 6 bedroom home in Churchill. This was a great result and our vendors were delighted with the outcome. While Melbourne’s property prices are down, they are faring much better than expected.

Melbourne’s affordability and jobs growth are holding the market up, and the outlook is positive for the second half of the year. Regional Victoria continues to see changes across several areas. Ballarat is currently fairing very well on 6.5% median price growth. Geelong is not performing quite as strongly as it was earlier in the year, however the federal budget’s announcement of a fast rail cutting down commute time from Geelong to the CBD is expected to grow demand. Our Latrobe-Gippsland region has experienced strong growth in the last quarter. With the announcement of $835 million worth of sport, government, entertainment and economic development projects throughout the

Welcome.

“most people purchasing at this time of year will be meaning business.”

Stand Out Sales

area, some of which include the Gippsland Rail Line, Loy Yang A upgrade, Latrobe Creative Precinct, Latrobe Valley GovHub and Gippsland Regional Aquatic Centre. These projects have created jobs, improved amenities, attracted visitors and in turn stimulated the economy. For those hoping to move into a new home ahead of the New Year, now is the time to seek assistance from an experienced property professional with strong negotiation skills and expert local area knowledge. At Wilson Property, our highly skilled sales agents can help you secure a premium price for your home despite seasonal fluctuations and market trends, and help you get settled into your new home before the beginning of the holiday season.

Days On Market | 17Off Market Sale Days On Market | 43

39 St Georges Road 4 Sherwood Court 16 Newry Drive

$534,000 $440,000 $378,000

Bed 4 Bed 3 Bed 3Bath 2 Bath 2 Bath 2Car 2 Car 2 Car 2

Team Wilson

03 5176 2055

25 Hotham Street, Traralgon, 3844

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TRARALGON TRARALGON TRARALGON

Traralgon

Traralgon

$315,000 3.25% 5.31% $315pw High

$212,000 0.1% 6.33% $260pw High

Rosedale

Glengarry

$315,000 5.29% 4.86% $265pw Average

$310,000 3.33% N/A N/A Average

HOUSES

UNITS

The Stats.

Median Price

AnnualGrowth

Rent Yield

MedianRent

RentDemand

Median Price

AnnualGrowth

Rent Yield

MedianRent

RentDemand

Glengarry

Traralgon

Rosedale

*Data retrieved from realestate.com.au and yourinvestmentpropertymag.com on 06/08/19

The Stats.

Churchill

Morwell

Morwell

Hazelwood North

HOUSES

UNITS

Median Price

AnnualGrowth

Rent Yield

MedianRent

RentDemand

Median Price

AnnualGrowth

Rent Yield

MedianRent

RentDemand

$193,500 3.46% 5.38% $185pw Low

$174,000 2.34% 7.04% $230pw Low

$190,750 3.14% 6.91% $240pw Average

$527,000 N/A N/A N/A Average

Churchill

Morwell

Hazelwood North

*Data retrieved from realestate.com.au and yourinvestmentpropertymag.com on 06/08/19

Are you looking to sell your property? Contact us today for a free appraisal.

Wilson Property

wilsonpropertyrci.com.au

03 5176 2055

25 Hotham Street, Traralgon, 3844

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