Reasons to invest
Updates / Feb 19
Did you know that Melbourne’s west is one of the fastest growing corridors in Australia? It’s predicted by planning authorities that by 2036, it will be home to approximately 400,000 residents.
It’s not hard to see why more buyers are looking west, as anyone hoping to stay within 25 kilometres of the CBD, would likely be paying more than double for the east equivalent. For example, the median house price in Hoppers Crossing is just over $400,000, while in Heathmont in the east, the equivalent is $910,000. Additionally, the 2018-19 Victorian Budget also includes $352.2 million in funding to build 12 new schools across the state, 4 of which are due to be located in Melbourne’s west, making an appealing case for those looking to start families in the near future.
Melbourne’s west has evolved significantly over the past decade, with newly developed thriving retail precincts such as Highpoint’s $300 million expansion in 2013 and Pacific Werribee’s $400 million transformation unveiled in 2016 and significant infrastructure developments underway.
The recently revealed plans from the A-League for construction of a 15,000 seat stadium and sports precinct in Wyndham also heralds a game-changer for the west. The proposed precinct marks an exciting time football fans and those in the western suburbs, who currently have no major sports stadiums.
Whether you are considering Tarneit as an investment or a home, the outlook for buying land in this high growth corridor across the medium – long term looks bright.