Despite the sale of 100s of blocks of land in the Shepparton area in the last two years – many that are ahead in the construction planning process – Shepparton is still likely to experience a continued building boom, according to local real estate agent, Rocky Gagliardi.
“The building boom is still to kick-off. Three hundred homes are due to be built and that’s just the start,” Rocky told Our Goulburn Valley magazine. “The market paused during lockdown and is now up and running again,” he said.
An indication of the strength of the local market was shown when Gagliardi Scott Real Estate received close to 500 people registering their interest in buying blocks in the Northern Quarter development in Verney Road, North Shepparton. The blocks are going to contract later this year for preparation to build from mid-2022.
There is also strong interest in The Vines Estate development with another 40 blocks in stages 4 and 5 coming on stream, and approximately 30 blocks at the Sancturary Park Estate opposite the Shepparton Harness Racing Club for their stage 6 development.
Other recent successful developments have been Edgewater Road where 90 blocks were sold, Riverwood Park where 40 blocks were sold and Seven Creeks Estate where 45 blocks were sold.
“The market paused during lockdown. Now the challenge is being able to meet the demand; there’s a big shortage of stock,” Rocky said.
