Land sales boom continues

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LAND BOOM… Gagliardi Scott Real Estate principal, Rocky Gagliardi, said he’s never seen property selling so hot in Greater Shepparton as now. Photo: Struan Jones.

GREATER Shepparton is in a land sales boom and it’s showing no signs of slowing down, according to one of the region’s most experienced real estate agents.

Rocky Gagliardi, principal at Gagliardi Scott Real Estate, said the region’s real estate market has only intensified since the onset of the Coronavirus pandemic.

“What we’re seeing now is a shortage of land lots available,” he said.

The perfect storm of low interest rates, the availability of government grants and booming regional industries has combined to heat up the market and available lots have become scarce.

“Now we’re finding there is anxiety among buyers looking to build in the next couple of years who are realising they could run out of blocks to pick from,” Rocky said.

Gagliardi Scott are the agents for several residential land estates, many of which brought forward their 2021 sales, including at Sanctuary Park, The Vines, Riverwood Estate, Windsor Park Estate and Seven Creeks Estate.

“Lots have been selling like mad this year. I’ve never seen anything like it. I was involved in the last building boom and this is unprecedented,” Rocky said.

Gagliardi Scott Real Estate is located at 182 High Street, Shepparton, and can be contacted on (03) 5831 1800.