Regional Spotlight – Gippsland

REGIONAL SPOTLIGHT – GIPPSLAND (November 2023)

From sensational surf beaches to rich productive farmland, Gippsland (south east of Melbourne) has it all.

So much so, over recent years, Tourism Victoria has coined the phrase “GippsWonderLand” for all of Regional Gippsland’s promotional activities. To visit the State Government’s “Visit Gippsland” website please >> click here.

A QUICK LOOK AT GIPPSLAND MEDIAN VALUES

Our November edition of the Ray White Now Report, shows the median value of houses across Regional Victoria now sits at $586,191, down by .1% on the previous month. Conversely, Melbourne’s median house value now sits at $1,042,555, up by .5% on the previous month.

With a median difference of $456,364, when it comes to purchasing property, Regional Victoria with its relaxed lifestyle and generally lower cost of living remains remarkable value.

A short commute southeast and east of Melbourne, you’ll find the Council Shires of Cardinia, Bass Coast, Baw Baw and South Gippsland. We’ve appended below a quick look at some of the amazing median house values that you can uncover in these regions.

If you’re after information that is not mentioned here, please contact us and we’ll forward accurate regional median house data specific to your needs.

CARDINIA SHIRE

• Koo Wee Rup – located 16km* from the southeastern suburbs Melbourne. Median value October 2023 = $648,000.

Data sheet >> Suburb Flyover – Koo Wee Rup VIC NOV 23

• Lang Lang – located 30km* from the southeastern suburbs of Melbourne. Median value October 2023 = $718,000.

Data sheet >> Suburb Flyover – Lang Lang VIC NOV 23

Check out this property for sale at Lang Lang East >> click here.

BAW BAW SHIRE

• Ripplebrook – located 38km* from the southeastern suburbs of Melbourne. Median value October 2023 = $525,000.

Data sheet >>Suburb Flyover – Ripplebrook VIC NOV 23

Check out this property for sale at Ripplebrook >> click here.

• Noojee – located 72km* from the southeastern suburbs of Melbourne. Median value October 2023 = $490,000.

Data sheet >> Suburb Flyover – Noojee VIC NOV 23

SOUTH GIPPSLAND

Walkerville – located 126km* from the southeastern suburbs of Melbourne. Median value October 2023 = $750,000.

Data sheet >> Suburb Flyover – Walkerville VIC NOV 23

Check out this property for sale at Walkerville South >> click here.

• Fish Creek – located 110km* from the southeastern suburbs of Melbourne. Median value October 2023 = $520,000.

Data sheet >> Suburb Flyover – Fish Creek VIC NOV 23

Check out this property for sale at Fish Creek >> click here.

• Sandy Point – located 130km* from the southeastern suburbs of Melbourne. Median value October 2023 = $820,000.

Data sheet >> Suburb Flyover – Sandy Point VIC NOV 23

GIPPSLAND “SHORT STAY” HOLIDAY INVESTMENTS OR “PERMANENT LIVING”

From Phillip Island to Mallacoota, Mallacoota to Mount Baw Baw, there’s some amazing beaches, country and tourist attractions to visit right throughout the Gippsland region.

Tourism Victoria has made it easy to discover many of Gippsland’s regions via the “Visit Gippsland” website and their “GippsWonderLand” promotional campaigns >> click here.

With strong regional tourism, the demand for quality “short stay” accommodation across Gippsland is high. As a result of demand and short supply of quality accommodation, many property owners (and property investors) have opted to list their property as a “short stay” option for tourists visiting the region.

Many of these properties feature on the “VisitGippsland” website, or more traditional short stay websites such as “AirBnB”.

For many property owners, this strategy is a great way to secure revenue that may aid with the payment of property mortgages.

We’ve appended below an example of what investment yield may be achievable when applying this strategy to regional property ownership. These calculations are for demonstration purposes only, and we recommend you seek independent advice when considering this method of property revenue generation for your own benefit.

Munbilla, Walkerville South

Visit Munbilla short stay by >> clicking here.

Short stay rental $2,000 per night.

^50% occupancy $364,000 per year.

^$364,000 / $5,500,000 x 100 = 6.61%

Wirrega, Walkerville South

Visit Wirrega short stay by >> clicking here.

Short stay rental $2,750 weekends / midweek, $3,750 full week.

^50% occupancy $97,500 per year.

^$97,500 / $3,000,000 x 100 = 3.25%

Beekeepers, Tarwin Lower

Visit Beekeepers short stay by >> clicking here.

Short stay rental $1,050 per night.

^50% occupancy $191,100 per year.

Cape House, Walkerville South

Consider Cape House as a short stay investment >> click  here.

^Short stay rental estimate $144,300 per year at 50% occupancy ($288,600 at 100%).

^$288,600 / 365 days in the year = $790 per night.

^$144,300 / $3,000,000 x 100 = 4.81%

*Source: Google Maps, journey calculated from Pakenham. ^Estimates only and based on examples of similar short stay accommodation within close proximity to examples shown. Ray White Rural Victoria does not warrant the accuracy of the information shown here. Ray White Rural Victoria recommends property owners conduct their own due diligence before making any property investment or offering their property to the market as a short stay option for tourists.