THE local property sales market is booming, with the Real Estate Institute of Victoria’s latest analysis of sales volumes showing that regional areas had the largest increases across the state last year.
While the volume of property sales dropped around 20 percent overall in Victoria in 2018, there were some pockets of success in regional Victoria.
Of the top 10 list of the biggest increases in terms of sales volumes, nine were country towns including Mooroopna, with an 18.4 percent increase in property sales.
But it isn’t just the existing property market doing well. Across Greater Shepparton, March has seen a $2M increase in the estimated cost of new dwellings built when compared to last year. In 2018, 26 new dwellings were built in March coming to a total estimated cost of $7,461,722 and this year there were 34 new dwellings built at a total estimated cost of $9,669,021.
When comparing from July 1, 2018 to March 2019 with the same period in the years prior there has also been a significant increase in new dwellings being built. From July 1, 2018 to March 2019 there were 266 new dwellings built coming to an estimated cost of $84,758,417. From July 1, 2017 to March 2018 there were 253 new dwellings built coming to an estimated cost of $74,549,599.
