THE local property market continues to boom with availability of land supply outstripping demand.
A lack of available properties on the market, particularly land to build upon, is in short supply across the Goulburn Valley.
Although much is in the planning, the slow process of approval by Council and the State Government of these new developments are a major contributing factor to the shortage and subsequent dramatic rise in vacant land prices.
“Very soon, young home buyers will be priced out of the market if we cannot get sufficient new developments made available,” said Rocky.
“Property prices are not going to go down, despite increasing interest rates, and the lack of land available will see to that.
“Anyone looking for a block to build on would be well advised to get in as early as they can, where they can. Currently, there is limited land available to build on, so if the opportunity arises, secure that block as soon as possible. Even if you aren’t planning to build straight away, guaranteeing your plot prevents heartache down the track.”
For anyone contemplating buying property in the region, Gagliardi Scott Real Estate is located at 182 High Street Shepparton or call them on 5831 1800.