Coming to market soon, this spacious master built country lifestyle retreat with spectacular valley views and located 1* hour to Melbourne’s CBD will sell quickly. Contact Jason for details. #CountryLifestyle #RegionalVictoria #RayWhiteRuralVictoria
OUTER MELBOURNE – Melbourne’s surrounding Council Shire peri-urban real estate report (September 2019).
After a relatively subdued period in the lead up to this years’ election, regional real estate markets within an hour or two from Melbourne are starting to experience a noticeable uplift in both seller and buyer activity.
In the 12 month period to June 30 2019, of the 9 peri-urban Council Shires surrounding metropolitan Melbourne, 17,059* real estate transactions took place totalling $11.9 billion. Of those transactions Greater Geelong City Council (responsible for the Bellarine Peninsula) was ranked #1 for most settled transactions amassing 4,518 real estate sales. Geelong’s short distance and public transport links to Melbourne, public amenity and proximity to pristine coastal settings is driving population growth within the region. As a consequence buyer demand for residential, rural lifestyle and farmland real estate is driving sales and has driven ‘days on market’ (to sell) down to 58* days.
To find out what your outer Melbourne real estate may be worth >> click here.
On the other side of Port Phillip Bay, Mornington Peninsula Shire was next best with 3,079 transactions totalling $3.065* billion. Mornington Peninsula Shire did rank #1 for highest residential, rural lifestyle and farmland median price points. The Shire’s residential median price was $770,000* with Surf Coast Shire a close second at $761,000. Of the 9 peri-urban Shires surrounding metropolitan Melbourne, Murrindindi Shire Council to Melbourne’s north was the best value residential median at $444,000*.
In the rural lifestyle classification (4 to 40 hectares) Mitchell Shire Council turned over the most property. 77* rural lifestyle properties settled in the Mitchell Shire region in the 12 month period to June 30 2019. At a median price of $487,000*, the median price for rural lifestyle property in the region was also the best value amongst all 9 peri-urban Shires.
Ray White Rural Victoria recently set a new high for the Shire achieving above $1.4 million for a 52 acre lifestyle property at Clonbinane (just over 1 hour from Melbourne’s CBD). To view the property >> click here.
Melbourne’s population growth and urban sprawl is contributing to an increase in price per hectare of available farmland around Melbourne’s peri-urban fringe. Mornington Peninsula Shire has limited property stock in the farmland classification above 40 hectares and therefore when stock of this nature does hit the market it is well sought. In May* 2019 a 48.43* hectare property located at Mount Eliza on the Mornington Peninsula settled for $24.2* million. The same property was bought in March 1998 for $4.75* million, equating to a gross gain of $19,450,000 over 21 years.
To learn more about outer Melbourne real estate please contact Jason Hellyer on 0403 043 571.
Ray White Rural Victoria is currently marketing a 66* acre farming property at peri-urban Officer South, south east of Melbourne. The property is located between the growth hubs of Cranbourne and Pakenham. To view the property >> click here.