The trend of pre-sale residential land may have slowed a little and is not quite as hectic, however interest is still relatively strong compared to pre-Covid, Shepparton real estate agent, Glenn Young told Our Goulburn Valley magazine.
Large amounts of land have been pre-sold in advance, particularly during the Covid period, allowing for a continued pipeline of development.
Excitingly, Glenn Young’s firm, Youngs & Co Real Estate, are gearing up for a 250-block development which will be coming on stream in late 2023. Known as Westwood Rise, west of Mooroopna and north of Westwood Run, blocks are anticipated to be approximately 800 sqm + and will be complemented with a large reserve and open views.
Glenn says that another development he is excited about is the first stage of the Emerald Bank development, which will see larger than average blocks with several backing onto a bushland backdrop setting.
“Blocks will also be overlooking Paradise Lake, south of the recently opened Museum of Vehicle Evolution (MOVE) in Kialla,” he said.
The area comprises a 68-block development with many lots over 1,200m2. Lauriston Estate in Shepparton’s north continues to be one of the highest sought-after locations (close to GV Grammar School and St Luke’s Catholic Primary School) with large 2,000m2+ blocks with an ever-increasing list of potential buyers keenly waiting on further releases.
Glenn says that commercial property in the Shepparton area continues to be tightly held. Concerning industrial land, the challenge he and his team have is fulfilling the high level of enquiry from Melbourne businesses for larger blocks so that they can relocate.
“It’s amazing; people are realising they don’t need to be in Melbourne and Shepparton is ideally located for transport,” said Glenn.
“Blocks of 5,000 – 10,000 sqm are in hot demand. Land is a lot cheaper in Shepparton compared to Melbourne, but the big challenge is getting land rezoned in a timely manner to allow the land to be developed. Regulatory authorities (and their processes) need to work together efficiently so there is a positive outcome for everyone.”
He also explained that major changes the State Government has introduced have created a big bottleneck in achieving various accreditations, particularly for gas fitters.
“Very few gas fitters with the correct certification are available to service gas appliances, as there aren’t enough being trained and moving through the system. This has a chain reaction to a whole range of issues,” said Glenn.
Combining years of experience in the real estate business, Youngs & Co Real Estate, would be one of the most experienced in regional Victoria. Business founder, Les Young, alongside Glenn and his wife Connie Young and their team operate from offices in Shepparton and Mooroopna.
