Looking for a big change? Ready to start finding your dream home or another investment this year? If you’re still contemplating whether a suburb is worth your hard-earned money, then read on. Property buyers looking for affordable real estate with a possibility of rapidly growing in value will find the best opportunities in regional Victoria as revealed by new analysis.

Check out the 5 undervalued suburbs in Victoria, Australia that could be a worthy option for upsizing this year!

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Morwell

The quaint Morwell is located in the Latrobe City local government area in Latrobe Valley, Victoria. The population is 14005, with an average income of $600. The median price for houses here is $181,149 while the median price for units is $167,113. House prices here have grown by 6.30% in the past 3 years and around -3.01% last year. The unit prices in Morwell have increased by only -0.06% in the past 3 years.

There were 281 houses sold last year and 28 units sold last year in Morwell.

Horsham

Horsham is a peaceful suburb found in the Horsham Rural City local government area of South Wimmera, Victoria. Perfect for starting families, Horsham has a population of around 14284 residents, and the average income is $664. The updated median price for houses is $256,226 while the median price for units is $256,659. House prices here have grown by just -2.58% in the past 3 years and -6.14% last year. Moreover, unit prices in Horsham have only grown by 27.36% in the past 3 years.

There were 238 houses sold last year and 36 units sold last year in Horsham.

Wendouree

The vibrant Wendouree is a suburb located in the Ballarat City local government area of Ballarat City, Victoria. There’s only a total of 10597 residents here, with an average income of $550. The current median price for houses is $286,487 and the median price for units is $198,310. The house prices in Wendouree have grown however by 20.25% in the past 3 years and 10.12% last year. Unit prices in Wendouree increased by -14.16% in the past 3 years.

There were 222 houses sold last year and 29 units sold last year in Wendouree.

Sale

The fun and inviting Sale is a suburb located in the Wellington Shire local government area of Wellington Shire, Victoria. Sale has a population of around 13185 residents, with an average income of $728. The updated median price for houses is $299,089 while the median price for units is $265,569. House prices in Sale have grown by only 3.00% in the past 3 years and 2.90% last year. Unit prices in Sale have grown by a comfortable -1.94% in the past 3 years.

There were 196 houses sold last year and 21 units sold last year in Sale.

Shepparton

The vibrant Shepparton suburb is located in the Greater Shepparton City local government area of Greater Shepparton City Part A, Victoria. Shepparton has a growing population of 29553 residents, with an average income of $648. The updated median price for houses is $270,152 and the median price for units is $229,287. House prices in Shepparton have only grown by 5.59% in the past 3 years and 2.17% last year.

There were 470 houses sold last year and 68 units sold last year in Shepparton.

Other top investment suburbs to consider

TOP INVESTMENT SPOTS FOR 2019

1. Cheltenham — $1.05 million median

2. Footscray — $870,000 median

3. Seddon — $990,000 median

4. Cremorne — $1.2 million median

5. St Kilda — $1.315 million median

6. Beaumaris — $1.55 million median

7. Geelong — $700,000 median

8. Thornbury — $1.81 million median

9. North Melbourne — $1,158,500 median

10. Kingsville — $960,000

Upsizing can become a difficult choice when you don’t know where to start looking. By considering the list above, you’ll be able to acquire that preferred home for upsizing in no time. Couple that with Newcastle Permanent’s cheapest home loans and everything become even easier and more practical. Check it out and good luck with home upsizing this year!

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