Four regional cities are topping the league table for downsizers in Victoria.
A recent downsizing seminar presented by property firm Weda Partners in Melbourne highlighted some interesting trends among downsizers in regional Victoria. It turns out that downsizers are flocking to four key cities – Mildura, Ballarat, Bendigo and Geelong.
Already, Geelong is the fastest-growing regional city in Australia, and with talk of a rail link that will cut the commute time to Melbourne to just 20 minutes, Geelong is definitely set to hold even more appeal.
More broadly though, each of these cities has several key advantages. The drive to Melbourne involves decent roads with far less of the congestion towards the city centre than we see in, say, Sydney. There are also plenty of efficient train options, and this is a key driver behind what appears to be a “second gold rush” to country Victoria as home buyers flock to affordable homes in large regional centres.
Nest on the banks of the Murray
Mildura, set on the banks of the mighty Murray River, offers exceptional scenery as well as a growing gourmet scene. Naturally, the riverside location means water sports figure prominently in the local lifestyle, with boating, angling and kayaking all popular among Mildura residents.
With a median house price of $264,000 (apartments $194,000), it’s hard to go past Mildura for downsizing value.
More than a wealth of history
Bendigo has a thriving arts and culture scene – and it’s also a city where downsizers can relish the change of seasons, with wonderful displays of autumn leaves in the colder months. Apartments in Bendigo come with a median price of $280,000 so buyers downsizing from, say, Melbourne, can enjoy exceptional bang for their buck.
We often associate Ballarat with the historic site of Sovereign Hill but this city really has a lot going for it. If you’re looking to downsize and still enjoy the convenience and sophistication of a thriving regional hub, Bendigo is worth a look. Downsizers certainly won’t go hungry – or thirsty. Ballarat offers everything from local cafes to outstanding restaurants, plus plenty of local breweries and vineyards to explore.
Downsize to a growth story
Victoria’s big four regional cities – Mildura, Geelong, Bendigo and Ballarat, are worth putting on your radar if you’re downsizing. These cities are thriving, and the wealth of new housing developments is only adding to the vibrancy – and bright future – of these downsizer hotspots, as well as providing plenty of exciting housing options.