LOOKING for a cheap home, and a quiet life away from the crush and noise of city life? The Victorian Mallee and Wimmera might be just the place for you.
TIME TO BUY: With the median house price falling by 35 per cent in Ouyen, the unit sale price increasing by 135 per cent in Irymple and the largest percentage increase in median land prices in Red Cliffs, it’s a good time to buy or invest in the Mallee.
The latest issue of the newsletter Victorian Property, published by Victoria’s Department of Transport, Planning and Local Infrastructure, reports that while the median price for a home in metropolitan Melbourne was increasing by a hefty 7.2 per cent to $520,000 between 2012 and 2013, the median house price in Ouyen fell by 35 per cent, from $117,000 to $75,000.
But among Victorian country towns, Ouyen tied with Kaniva in third place behind Rainbow, which had the state’s lowest median house price of 65,400.
Minyip – the fictional Cooper’s Crossing for TV’s popular Flying Doctors series between 1986 and 1993 – was another low flier, coming in cheaper than Ouyen with a $73,500 median house price.
The table of the 10 cheapest places in Victoria to buy a home was rounded out by Hopetoun ($80,000), former Prime Minister Sir Robert Menzies birthplace, Jeparit ($80,500), Dimboola ($89,000) Murtoa ($95,000), Casterton ($97,500) and Warracknabeal ($105,000).
The biggest jump in median house prices was in the leafy heights of Sassafrass, in the Dandenongs, where an average home would now cost you at least $632,500 – a whopping 59 per cent increase on the 2012 median price of $397,500.
The difference between 2012 and 2013 would buy you three average-priced homes in Ouyen.
The median sale price of housing across country Victoria increased 67 per cent, from $173,500 in 2003 to $289,000.
For more of this story, purchase your copy of Friday’s Sunraysia Daily 08/08/2014.
This story Administrator ready to work first appeared on Nanjing Night Net.