Revealed: Regional Vic’s top place to invest

Buyers are looking regional to get into the property game but there’s one town in the state’s northwest outranking the rest.

An inner city Mildura townhouse sold for $420,000

Mildura, in the state’s northwest, has been named as the top investor suburb in regional Victoria.

Regional areas have become an investor’s haven with typically better affordability and rental yields, according to experts.

Realestate.com.au has named the best 30 regional towns and suburbs that are standout performers for 10-year price growth, rental yields and demand among tenants.

Mildura’s Tierney Real Estate director Ryan Tierney said the northwest was booming.

“Between young couples looking for a place to raise their family, to metro investors taking advantage of Mildura’s brilliant returns on investment and low vacancy rates, Mildura property is the best in the country,” he said.

“With capital growth, investment yields strong, a family and retirement lifestyle it is no wonder our marvellous Mildura is the awakening giant in Australia’s property market.”

Property Consulting director Frank Valentic said regional areas had performed well throughout Covid.

Mr Tierney said his firm has just sold a five acre riverfront property for $1.5 million.

Mr Tierney said his firm has just sold a five acre riverfront property for $1.5 million.

A five acre river front property in Mildura that sold for $1.5 million.

“Land value appreciates and buildings depreciate. So if you can get a house with some land, that’s gold for an investor,” he said.

According to the data, almost 700 homes were sold in Mildura in 2021 while the region experienced a 55.6 per cent 10-year growth rate.