Torquay House & Land Opportunity That Will Make You Money!
Being Australia’s fastest growing city since the turn of the century, Melbourne is experiencing unprecedented growth. Its boundaries are getting pushed further and further from the CBD, with its insatiable demand for new homes. It grew by 125,000 people last year. To put that into perspective, it means it needs to build a city the size of Adelaide every 10 years. That is a massive amount of new homes!! With this investment property in Torquay you will make a great amount of profit on it.
The Victorian Government is spending billions of dollars on road and rail upgrades bringing Geelong closer to Melbourne. Its now under an hours drive and train ride between the two largest Victorian cities. These trips are set to get even shorter with the introduction of fast trains and the new Western Distributor meaning 45 minute car trip and 35 minute train ride.
Geelong, around 20 minutes north of Torquay, is going through a phase of massive expansion. The catalyst for this was the Victorian government relocating many agencies from Melbourne to Geelong at a time when local business were already expanding and diversifying.
The majority of Geelong’s expansion is to its south in a region called Armstrong Creek, which is 10 minutes north of Torquay. Billions of dollars is being poured into infrastructure projects in this region and it has Victoria’s highest rate of first home owners.
Nothing affects price growth more than supply and demand. The population explosion in Melbourne and Geelong are adding to the mix creating the perfect storm for house price growth in Torquay.
Demand for a convenient coastal lifestyle from cashed up baby boomers, either relocating or purchasing weekenders, is huge. Add to that the growing demographic of self-employed people who work from home, means buyers are camping out to purchase land in Torquay. To cap this off, the Victorian Government announced that it is doubling the FHOG in regional areas of the State and there is also no stamp duty up to $600,000.
The effect this is having on land prices is obvious. If you were selling your property, and had a line of people camping in front of your house, what would you do?
Other than a few very expensive infill lots, land in the traditional village of Torquay is now sold out. There are new land developments with limited supply remaining that run of the Surf Coast Highway a few minutes to the north. These developments have been master-planned and include a retail shopping village, a primary and secondary school, sporting fields and open space.
A window of opportunity exists to purchase a house and land package under $800,000 in Torquay
So if you are looking for a great property in this area then look no further and contact chris on 0434 449 455 for more information. Don’t forget to check out our other great investment properties with great rental returns and profit.