A recent study said that land within the growth corridors of Melbourne, including Epping, should remain accessible to first-home purchasers throughout 2016.
The Land Subdivisions 2016 Outlook claimed that more land for developers is available in Victoria than in states like Queensland and New South Wales. The report was compiled in part by the Australian Property Institute (API), with the assistance of Herron Todd White (HTW).
If the reported findings about the future of the Melbourne area are correct then there could be significant demand for Premium Business Cards and luxury Business Cards from local property-related companies.
Paul Wheate, a director at HTW, explained that Melbourne was fortunate in having flat land all around it. Wheate said:
“So (in Victoria) a lot of people’s first home is a house and land package. In New South Wales and Queensland, it’s too hard to deliver a product at that price point and it’s easier to construct and sell apartments.”
Wheate predicted that prices in Victoria were likely to remain stable, with developers looking to sustain profits by pushing sales numbers. Areas near Epping like Whittlesea and Mitchell could well be the site for significant levels of house building, but areas south of Melbourne such as Cardinia and Casey might also witness plenty of construction, and western regions like Melton and Wyndham are unlikely to miss out going forward. Similar behaviour looks probable within Geelong, which is one of the largest settlements in Victoria.
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