Shire’s growth set to continue

AS reported last week, the Shire of Strathbogie celebrated reaching new heights in terms of both total population and annual population growth last year.
The shire population reached an estimated 10, 274 this year, an increase of 316 from 2016, the largest increase seen in decades.
This growth has been spurred on by the success of new housing developments in Nagambie, Avenel and Euroa, all of which have welcomed unprecedented levels of interest from both outside investors and local buyers.
As Melbourne becomes increasingly unaffordable to both new homebuyers and for those looking to buy an investment rental property, it seems more are looking to regional Victoria.
While local real estate agents from both Nagambie and Euroa concede that buying in regional Victoria does not see the same kind of capital growth as properties in Melbourne, the much lower cost to buy, and therefore high percentage return on investment through rent, was encouraging for investors.
However, those same agents reported that rate costs remained something of a deterrent to investing in the shire.

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