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8 Key Property Markets Surrounding Melbourne

8 Key Property Markets Surrounding Melbourne

According to the Victorian Government, Melbourne’s population is projected to grow from 4.5 million to almost 8 million, with Victoria’s total population set to top 10 million by 2051 >> click here to read more.

With Greater Melbourne already bursting at the seams and affordable housing stock in short supply, Melburnians are escaping the city to alternative country and coastal regions that offer ‘Value for Money’ and access to good amenity.

Here’s a list of 8 property markets surrounding Melbourne worth exploring, each with their own nuggets of property gold!

Feature Region

4. Mitchell Shire

Mitchell Shire is located in the heart of Victoria, just 40km north of Melbourne.

Townships include Beveridge, Broadford, Kilmore, Puckapunyal, Pyalong, Seymour, Tallarook, Tooborac, Trawool, Wallan, Wandong and Heathcote Junction.

More and more people are recognising the benefits of living, investing and doing business in Mitchell Shire. The population of 49,000 is expected to reach 270,000 in the next 25-30 years. Most growth is expected in the southern townships of Beveridge, Kilmore, Kilmore East and Wallan. Council is embracing the opportunities and responding pro-actively to the challenges of this growth to ensure residents have access to the services and facilities they need, can access local jobs and can enjoy a quality lifestyle of choice.

Property Median Value (0-4 hectares)
Quarter 2, 2021 = $535,000
Value Median Change + $55,000
Percentage Median Change + 11.45%

1. City of Greater Geelong

Geelong’s lifestyle is hard to beat. With quality living, wide-ranging recreational choices, a strong and growing economy and a cosmopolitan, vibrant community, there is real reason to love Geelong.

Located 75 kilometres south-west of Melbourne, the municipality covers an area of 1,247 km2, comprising suburban, coastal, and country areas. Greater Geelong is bounded by the Moorabool Shire in the north, Wyndham City Council and the Borough of Queenscliffe in the east, Surf Coast Shire and Golden Plains Shire in the west, and Bass Strait to the south. The region is characterised by the multi-award winning Waterfront overlooking Corio Bay, the picturesque Bellarine Peninsula, the Barwon River, You Yangs Regional Park, wetlands, beautiful parklands and wildlife sanctuaries.

Geelong is also the gateway to the world renowned coastline of south-west Victoria via the Great Ocean Road.

The City of Greater Geelong population forecast for 2021 is 268,984, and is forecast to grow by 46.19% to 393,216 by 2041.

Property Median Value (0-4 hectares)
Quarter 2, 2021 = $676,750
Value Median Change + $88,750
Percentage Median Change + 15.09%

Source: ^ABS Media Release 4/5/2021, *Report compiled by Ray White Rural Victoria 19/8/2021 using Property Data Solutions Pty Ltd © Ray White Rural Victoria. `Approximately. 

‘Off Market’ property available right now

We have a selection of quality Country & Coastal Lifestyle ‘Off Market’ property property to choose from, most within close proximity to Melbourne. To view these properties please >> click here.

Transaction case studies

To view a selection of Victorian transaction case studies please >> click here.

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