Top Victorian regions to escape lockdown
Lockdown weary house hunters can set their sights on these regional hubs with strong job prospects, good education opportunities and house prices a fraction of the city’s.
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The lure of Victoria’s “mini capital cities” has never been greater, as locked-down buyers look to stretch their legs and gain space in the wake of the Covid-19 pandemic.
With strong job prospects, good education opportunities and house prices a fraction of the cost of those in Melbourne, hubs including Bendigo and Wodonga are fast becoming part of homebuyers’ wishlists.
And as the regions remain largely free from the city’s ongoing outbreaks and lockdowns, more Melburnians are considering a permanent escape to the country.
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Propertyology’s Simon Pressley said the regions had long offered a lifestyle many city dwellers were “completely oblivious to” which had become clearer throughout the pandemic.
“These locations have (everything) in spades, Mr Pressley said.
“They’re what I describe as a mini capital city; they’ve got everything a capital city has and in a lot of cases, a lot better.”
Bendigo, Wodonga and Ballarat were at the top of Mr Pressley’s regional go-to list, while he considered Mildura and Warrnambool “understated locations” for buyers looking to get out of the city.
Geelong, he added, would always be popular given its proximity to Melbourne.
Mr Pressley said housing affordability and a vibrant economy were two of the main reasons people were looking into the areas.
“Bendigo has greater economic diversity than every capital city except Melbourne, Sydney and Hobart,” he said.
“It doesn’t matter what career path people chose, it’s there. The world is your oyster. And for places like Swan Hill, Echuca and Shepparton, Bendigo is their capital city.”
Tweed Sutherland First National Bendigo director Andrew Pearce said work-from-home arrangements had also allowed city dwellers to take their work with them in a move to the region.
Meanwhile, existing residents “have realised they don’t have to move away” in order to be employed by a Melbourne workplace, which only added to the market’s low stock levels and high demand.
He was expecting an influx of metro buyers, who were currently unable to travel to Bendigo to inspect properties, as soon as restrictions eased.
“When we’re not in lockdown, every hour of every day I’m getting calls from Melbourne,” Mr Pearce said.
“We used to have about 100 houses on the market at any one time, now we have about 20-25 and I don’t know if it will ever get back to that level. We’re still doing a similar number of sales, they’re just done much quicker.”
In Wodonga, a typical house can be snapped up for about $400,000 – a far cry from inner Melbourne where the median now exceeds $1m, according to realestate.com.au.
Mr Pressley said the tranquil spot, on the banks of the Murray River, was “extremely central” and close to wineries, Victoria’s alpine region and New South Wales.
Wodonga Real Estate director Mark Rosenvear noted many buyers were renting first “to sample their tree change” and get to know the area before committing to a purchase.
“Families see that it’s a great place to raise a family and it offers all the services that you would get in a capital city,” Mr Rosenvear said.
He labelled the region’s economy “recession proof”, buoyed by strong employment opportunities in tourism, government and retail.
Meanwhile further north, also on the river, Mildura had also “enjoyed so much more freedom” across the pandemic, making it more appealing than ever.
“We’ve gotten to see family for most of it, gone to work and it’s been much more relaxed,” Ray White Mildura agent Damian Portaro said.
He said migration from Melbourne-based buyers hadn’t been as strong as initially projected, but they had seen an increase in investors.
“We’ve had investors buy and say they will move later, and there are people who are thinking if things don’t improve, they’ll head to Mildura,” he added.
“And with prices so crazy in Melbourne, from an investment point of view we’ve offered great returns up to 5, 6, 7 per cent.”
On the state’s southwest coast, a home in Warrnambool can be purchased for an affordable $450,000.
“It’s not a mini capital city, it doesn’t have all the things Bendigo and Ballarat have, but some people don’t need all that,” Mr Pressley said.
“It’s still a reasonable drive to Geelong, it’s got access to hospitals, it’s a strong dairy and beef location and has expanding TAFEs and education.”
— with Christina Karras
TOP REGIONAL DESTINATIONS
BENDIGO
● Great job prospects including at hospitals, universities and in industries such as food manufacturing and farming
● Primary regional hub for the surrounding towns with a community feel
Median house price: $540,000
WODONGA
● Lifestyle location on the picturesque Murray River, with Lake Hume, wineries and the Alpine regions at its doorstep
● Large employment opportunities including at the local army base and taxation office
Median house price: $400,000
GEELONG
● Considered part of regional Victoria but with all the amenities of a capital city like Melbourne, including large shopping centres and hospitals
● Waterfront lifestyle and an easy commute to Melbourne, or the nearby beaches of the Surf Coast
Median house price: $905,000
MILDURA
● Great food and wine industries, including fruit picking
● Ideal position along the Murray River
Median house price: $354,000
WARRNAMBOOL
● Within travel distance of bigger cities like Geelong and on the train line to Melbourne
● Idyllic and quieter seaside location
Median house price: $450,000
Suburb data: realestate.com.au
RURAL RELIEF FROM LOCKDOWN PAIN
Life on the Murray River is pretty sweet for Red Cliffs’ Davey family.
Perfectly positioned about 10km from Mildura, parents Joel and Cassandra and their children Kelcey, 15, and Patrick, 9, couldn’t think of a better place to call home.
But their fortune has become even more apparent over the past 18 months with the state and, in particular Melbourne, hit with multiple Covid-19 lockdowns.
Mr Davey said they were grateful for the space they had at their 229 Nerrum Ave home, something the family credits with getting them through the tumultuous period.
“We didn’t have as much of a bumpy time as others,” Mr Davey said.
“We had space around us. On Easter last year (during lockdown) we just went down the bottom of our property and camped for the whole week.”
The family recently put their six-bedroom home on the market with a plan to travel in their caravan for a bit, when they can, before buying back into the area they love. And it’s under offer after about a week on the market.
Mr Davey said the local community and vast natural landscape gave residents a “sense of relaxation” which had become invaluable.
“(Behind our place) is all national park, it can never be built on and it stretches all the way to the Murray River.”
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