Four reasons to make the move to Regional Victoria

Melbourne residents are flocking to Regional Victoria. In fact, the Australian Bureau of Statistics has found that the number of people making a ‘tree change’ has doubled in recent years, with this trend only expected to continue. And for good reason! Country and coastal living offer the best of both worlds – more affordable homes close to public transport, shops and cafes, along with a relaxed and safe family lifestyle.

Here are four reasons (plus a bonus one) why more people are choosing to build ‘The One’ in Regional Victoria.

1. Regional home and land packages offer great value for money

One of the biggest drawcards of regional living is bang for your buck. Many Victorians are now realising that they can purchase a larger block of land to build their dream home for a lesser investment when compared to Metro Melbourne.

Regional Developer for Core Projects, Ben Stewart, says the median price gap between Armstrong Creek and Lara compared to the metropolitan south-west was $40,000 in 2020.

‘We would expect that areas such as Warralily Estate would continue to be the destination of choice as developers release a diverse and affordable range of house and land solutions,’ adds Ben.

Estate Manager for Gen Fyansford in Geelong, Brett Thompson, has seen a similar upswing in sales.

‘Many of our buyers are second or third homeowners, looking for a more upmarket product. With more people now having the ability to work from home, Melbourne buyers can buy in Geelong for substantially less than their current area with a superior lifestyle upgrade,’ says Brett.

‘Gen Fyansford offers beautiful natural park and river features, along with a village feel. It’s also the closest land development to central Geelong, as well as the upmarket suburbs of Newtown and Geelong West.’

Sales Manager for LandGipps in Gippsland, Brad Creighton, is not surprised by the heightened interest in regional towns such as Warragul and Drouin. The liveability and affordability of these regional areas make them extremely attractive to Melbourne buyers.

‘Both townships provide a comprehensive range of health and community services, quality education, natural spaces, employment opportunities and recreation. But affordability is often the deciding factor,’ says Brad.

‘When you look at house and land packages in the Drouin area and compare with the neighbouring South Eastern suburb of Officer, Drouin tends to offer land that is double the size and half the price,’ adds Leigh McDonald, Boutique’s New Homes Consultant for the Gippsland region.

But before you take the plunge into regional living, make sure you do your research, advises Geelong New Homes Consultant, Tim Wright. Talk to an expert who knows the area and the developments on the way. Blocks that appear cheap may not always be your best option.

‘Buy land in an area with limited supply which will have strong capital growth. I see purchasers buying in lower priced developments, but while they may save $50,000 to $80,000 in the land price, the end house and land product will be worth hundreds of thousands less,’ says Tim.

‘Speak to an expert, and purchase the best possible and largest sized lot, in the best area to obtain superior capital growth in the long term.’

2. The country lifestyle

Boutique New Homes Consultant for the Geelong region, Brett Morrissy, sees more and more Victorians returning to the country to start a family. And why wouldn’t you, with a variety of high-quality schooling options and Deakin University and TAFE campuses nearby?

In fact, close to 40 per cent of recent Warralily Estate buyers have come from outside the Geelong region, according to Developer Ben Steward, with families craving a ‘tree change’ and relaxed environment.

‘I see many people returning to the places where they grew up, after moving to the city for higher education or work opportunities. They want to be closer to the bay and open ocean beaches, the thriving Bellarine Peninsula and the You Yangs Regional Park to the north of Geelong,’ he says.

‘The arts scene continues to grow thanks to the major redevelopment of the Library and Art Gallery. There’s also a lively hospitality scene, with bars, restaurants, cafes and high-quality wineries and distilleries a short trip away from home.’

‘There’s something really special about the community aspect of living in the Regional areas of Victoria,’ says Leigh. ‘As a local, I feel privileged to live in the Gippsland region because of how easy it is to connect with the locals, especially at the weekend footy games.’

3. More Victorians are working from home

COVD-19 has transformed how we work and where we work from. Social distancing laws have forced employers to consider working from home options for their employees. And working Victorians are loving it!

‘People now only go into the office two or three days a week, meaning a larger home and block has taken priority over living close to work,’ explains Ballarat New Homes Consultant, James Belsar.

What’s more, building a new home gives you the opportunity to create a working space that is both productive and beautiful.

4. Regional infrastructure now outperforms city infrastructure

Urban spread is well and truly here, and Melbourne’s CBD infrastructure is struggling to keep up. Luckily, Regional Victoria isn’t experiencing the same commute issues.

‘It now takes people as long to get from the suburbs to the city on a metro train, as it does on the V-line from Ballarat! Plus, they’re often building in areas where supermarkets, shopping, schools and medical facilities are still in planning stages,’ explains James.

‘Ballarat already has all the infrastructure and facilities, just a 10-minute drive from our customers’ houses.’

Warragul and Drouin in Gippsland also have easy access to Melbourne via the M1, as well as public transport options. So regional buyers always have an easy way to commute to work in the Melbourne CBD.

BONUS reason. 

The Australian Government recently opened 10,000* new places in its Regional First Home Buyer Guarantee (RFHBG). Designed to support regional customers purchasing their first home, the guarantee allows eligible buyers to take out a loan without paying Lenders Mortgage Insurance (LMI), helping them potentially secure a new home in regional Victoria from as little as a five percent deposit.

We step you through the details of the RFHBG and how you could potentially take advantage of this to build ‘The One.’

Are you interested in building ‘The One’ in Regional Victoria? 

We’ve recently expanded our offering and are now building in Ballarat, Gippsland, Geelong and Bendigo. Click here to contact one of our specialist New Homes Consultants today.

Have you found ‘The One’?

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Lenders terms and conditions apply and may vary. Eligibility is at the discretion of the Federal Government. Further information on the Regional First Home Guarantee can be found here. All Financial services provided by Resolve Financial Solutions Pty Ltd trading as Resolve Finance ABN: 65 079 545 378 Australian Credit Licence No. 385487. Please refer to the relevant State & Federal Government media statements here.