Latrobe Valley Property Market - 2016 report

Are you interested in getting a better understanding of the Latrobe Valley property market over the past 12 months. We've pulled together a brief summary below, based on data made available to us. We hope to bring you month by month updates throughout 2017, so check in regularly or follow us on Facebook for the latest. 

Enjoy the read, if you've got any questions, would like us to get you some further information for your area, get in touch, we live and breath property, so we'd love to help. 

Sales (homes)

Traralgon - 447
Morwell - 260
Moe - 172
Newborough - 121
Churchill - 63

Total homes sold (including smaller towns) - 1148

Median Price (homes)

Traralgon - $275,000 - up 3.9% on 2015, up 2.6% over past 5 years
Morwell - $152,000 - up 1.3% on 2015, down 5% over past 5 years
Moe - $170,000 - up 3% on 2015, up 4.6% over past 5 years
Newborough - $210,000 - down 4.5% on 2015, up 13.2% over past 5 years
Churchill - $182,000 - up 4% on 2015, up 5.8% over past 5 years

Sales (units)

Traralgon - 64
Morwell -32
Moe - 36
Newborough - 11

Total units sold (including smaller towns) - 146

Median Asking Rent (homes)

Traralgon - $280
Morwell - $205
Moe - $220
Newborough - $260

Latrobe Valley - 2016 property summary

2016 saw fewer sales than 2015 and recent years, across the board. Whilst sales numbers were slightly down, median sales prices were well up for the Latrobe Valley overall. 

As you'd expected, Traralgon was the standout performer with 447 home sales and 64 unit sales, consistently improving in median sales prices. Whilst data is not yet final, Traralgon exceeded all other towns for land sales, with the range of land developments available in Traralgon comparative to other towns, this is expected. 

Newborough is (or was) flying under the radar. We've seen very strong sales (121) and a solid median sales price of $210,000, this is up 13.2% over the past 5 years. Newborough is also host to the second highest median asking rent ($260), a great little community that's offering plenty. 

Key stats

$264,337,000 worth of homes sold in 2016

$23,757,000 worth of units sold in 2016

1,148 homes sold in the Latrobe Valley in 2016

$235 is the median asking rent for 2016

$227,000 is the median sales price for the Latrobe Valley in 2016

There is 24,965 homes in the Latrobe Valley

4.6% of Latrobe Valley homes were turned over/sold in 2016

 

*all data should be treated as approximations only and has been sourced from leading realestate data providers. Current data does not include the sale of land or commercial properties. If you're wanting to know more about your town, or have a specific question please let us know. 

 

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