With an increase in land sales, now is a good time to commit before the next land boom!
DUE to the oversupply of land causing developers and landowners to offer incentives and adjust the price of their product to create a stimulus and a new ‘market rate’. Land has never been cheaper post-covid so it’s important to get in the market sooner rather than later.
One of Northern Victoria’s largest land sale agents, Rocky Gagliardi of Gagliardi Scott Real Estate, says it’s important to prepare for the next lift in the economy. “This will happen when interest rates start to subside, giving confidence to many, knowing that rates have peaked. It’s all about confidence,” Rocky told Our Goulburn Valley magazine.
As one of the region’s leading land sale agents, Rocky is confident on several fronts for the Goulburn Valley.
“The marketplace is currently more price sensitive with no stimulus in the property environment space. Existing homes are selling well at a level of pre-Covid.” Rocky said.
“The Shepparton region is strong enough to survive tougher times; the region has a strong base, with Shepparton being a resilient centre for doing business,” he added.
On another point, Rocky says Victoria is under a lot of pressure with the increase in land tax and energy costs. The jury is out on investment property.
“On a positive note, there is a good supply of land throughout the Goulburn Valley for the next three years. However, we do need to be planning well beyond this window of opportunity. It’s a very long process to develop land, so Councils need to be well ahead of this.
“We as a city need to prepare for the next land boom, which will come with lower interest rates,” said Rocky.
As an indication of what land Rocky has on his books, here’s a list of the estates:
North Quarter: 4 titled blocks remaining in Stage 2, Stage 3 now released and construction started, Prices from $245,000 .
The Vines (Stage 7): 10 titled blocks available with 14 blocks under offer, priced from $270,000.
Sanctuary Park (Bolzonello Release): 10 titled blocks available for immediate sale from $245,000 with 32 blocks available shortly.
Seven Creeks Estate (Stage 20): 17 blocks available from $250,000.
Emerald Bank Estate (Stage 1); 24 blocks available from $299,500.
