The local property industry appears to be bouncing back from any downturn, with figures from the Real Estate Institute of Victoria revealing that Moorabool house prices were the fastest growing in Victoria for the June quarter.
The median price for a three-bedroom home was $360,000 for the June quarter, which is up a whopping 23 per cent from the March quarter figure of $292,000. Current prices aren’t up drastically from the same time last year (only 3 percent) but they are showing that the property market is recovery from the lows that were experienced at the start of this year.
The reason for Moorabool’s increasing property prices is mostly likely due to people looking for a tree change. Areas like Bacchus Marsh have a lot to offer because you can get the peace and quite of the country while still being close to the city for those who need to commute to work everyday.
Compared to Melbourne’s metropolitan areas, Bacchus Marsh is still a very affordable place to live too and with prices rising, homes here offer a great investment.
I may be bias, but Bacchus Marsh really is a great place to live for so many reasons. If you’re interested in properties in the Bacchus Marsh region then please drop me a line and find out why people are making a tree change.