Money Australia – July 2017

Shoalhaven City Council has recorded annu-

al growth levels well above the 15-year average

inthethreeyearsto2016:houses9.9%,units

9%andland19%.In2017,$542.1millionofnew

developmentisexpectedtostart,withinfra-

structurevaluedat$313millionthemain focus.

7

WAGGA WAGGA

NSW

WaggaWagga,about459kmsouth-westof

Sydney,isthestate’slargestinlandcitywith

apopulationof65,537.It’shosttoabout5443

localbusinesses,withgrossregionalproduct

estimatedat$3.6billion.

Overthe15yearsto2016,theareahasseen

annual price growth of 6.3% for houses, 5.8%

forunitsand6.1%forvacantland.Yields,

whichhaveremainedabove4%since2009,

have been a drawcard for astute investors.

WaggaWaggaissettosee$329.2million

ofnewprojectsthisyear,includingamedical

schoolvaluedatabout$50million.

8

BALLARAT

VIC

Ballarat,about115kmfromMelbourne,hasa

population of 99,841, making it the third largest

inland city in Australia. House prices have

increasedanaverageof6.5%ayearinthe15

yearsto2016.Unitpricesandlandpricesrespec-

tively grew 4.6% and 6.5%.

Unlike many other country areas, Ballarat

hascontinuedtoseepositivegrowthforevery

year from 2002 to 2016, indicating that the

marketisstrongandstable.About$211.7mil-

lion in new developments is starting this year.

om Melbourne, with

2,888, is the fourth

prices have grown

earrespectivelyfor

In the two years to 2016, annual growth

rates for vacant land have been particularly

strong at 11.8% (2014-15) and 13.1% (2015-16),

duemainlytoanincreaseindemandforland

subdivision. This year will see about $55.8 million

of residential development, $55.8 million of

infrastructure investment, including the

Bendigo airport redevelopment (stage 2), and

PROPERTY AFFORDABILITY

commercial and industrial development valued

at $36.3 million.

10

SHEPPARTON

VIC

Shepparton, about 188km from Melbourne, has

apopulationofabout67,072.It’shosttoover

6100 businesses and 30,000 local employment

opportunities. House, unit and vacant land

priceshaveincreased5%,3.2%and5.6%ayear

respectivelyinthe15yearsto2016.Rentalyields

comparefavourablywithMelbourne’s3.2%for

houses and 4.3% for units. New development

worth $226.2 million is expected this year, most

in infrastructure and focused on a rebuild of

the Shepparton hospital.M

KEYFACTS:BALLARAT, VIC

Median house price $320,000

Median land price $140,000

Median unit price $230,000

Vacancy rate 2.6%

House rental yield 3.2%

KEYFACTS:BENDIGO,VIC

Median house price $325,000

Median land price $155,000

Median unit price $193,000

Vacancy rate 3.3%

House rental yield 3.2%

KEY FACTS: SHEPPARTON, VIC

Median house price $272,000

Median land price $124,777

Median unit price $158,000

Vacancy rate 2%

House rental yield 5.5%

Yields of 4%-plus since 2009 have been

a drawcard for astute investors

KEY FACTS: SHOALHAVEN, NSW

Median house price $470,000

Median land price $167,500

Median unit price $329,000

Vacancy rate 0.9%

House rental yield 3.5%

KEYFACTS:WAGGAWAGGA,NSW

Median house price $340,000

Median land price $135,000

Median unit price $220,000

Vacancy rate 4%

House rental yield 5%

Solid growth... Wagga

Wagga will benefit from

projects worth $330 million.