‘Golden opportunity': Victoria's top affordable tree-change towns
Three regional Victorian areas have been named among Australia's top affordable housing markets, as rising property prices in capital cities push buyers towards greener pastures.
Bendigo, Greater Shepparton and Wodonga are listed as the best affordable regional areas where 'growth, value and lifestyle intersect' according to a new report by PRD Real Estate, Smart Moves: Regional Edition 2025.
In the report, which covers 10 regional markets, PRD Real Estate applied five criteria to identify the 'most promising' areas for either home buyers or investors. They are affordability, sales and growth, rental yields, future development and employment strength.
In Victoria's case, all three locations have house prices well below Melbourne's median, which was $894,500 in the December quarter according to PRD. By comparison, median house prices in the same period were $580,000 in Wodonga, $570,000 in Bendigo and $490,000 in Greater Shepparton.
PRD Real Estate chief economist Dr Diaswati Mardiasmo described regional Victoria as 'a world of opportunities'.
She said rising prices in Melbourne and loan conditions were prompting first home buyers to look elsewhere.
'Most of these [regional towns] are 40 to 45 per cent cheaper than Melbourne… You have a lot more choice if you are a first home buyer and [buying] under the first home grant … most of the stock in regional areas in Victoria fits underneath the price cap,' Mardiasmo said.
She said the areas listed also appealed to investors due to affordability and less competition.
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