Despite being Australia’s second-smallest state, Victoria is home to a quarter of the country, with the state capital of Melbourne soon expected to overtake Sydney as the nation’s most populous city.
A centre of business, sport, culture, and cuisine, the fact that so many people want to call Victoria home shouldn’t be a surprise. But with a large crush of people descending on the state, and Melbourne in particular, local property prices have grown high, and in recent years have experienced some volatility.
There is, however, a way to avoid the sky-high prices, the volatility, and the competition for space. House and land packages, particularly those in developments away from Melbourne’s expensive and cramped city centre, offer buyers a cost-effective way to enter the Victorian property market, while also providing a high quality of life in a brand new home.
The reasons to live in Victoria are many and varied. If you are looking to invest in property in the area, could a house and land package be right for you?
Why buy in Victoria?
Let’s first look at the state of Victoria itself, and what you can expect if you do decide to buy property there.
Victoria has a population of 6.5 million, although Melbourne alone accounts for over 5 million of those, making Victoria comfortably Australia’s most urbanised state. 72% of Victorians were born in Australia, but this figure varies greatly depending on whether you’re talking about Melbourne (66%) or the state’s regional areas (95%).
The average age of Victorians has been creeping up in recent decades, from 35 in 2001 to 37 today, reflecting the broader ageing trends of the Australian population. It is expected that in 2021 a full quarter of Victorians will be aged 60 or above. In recent years Victorians have also experienced some of the lowest unemployment rates in the country, with just 4.9% of the population currently out of work.
There’s a reason that Melbourne is continually voted the world’s most liveable city. Victoria is a state that is safe yet exciting, compact yet spacious, familiar yet diverse.
Melbourne is often called Australia’s capital of sport, being the birthplace of Australian rules football and test cricket, and hosting the Australian Open and the country’s first Olympic Games. The city is also seen as a hub of arts and culture, being home to several world-famous galleries, museums, and festivals.
The perks of compactness mean that Victoria boasts perhaps the best public transport network of any Australian state. Melbourne’s impressive network of buses, trams, and trains helps to make even long daily commutes a breeze. At the same time, many of the regional centres and significant satellite suburbs have some form of express transport service to the Melbourne CBD.
Victoria enjoys some of the lowest crime rates of all Australian states, making it a particularly popular place to live for young families. Healthcare and education options are also plentiful, with many foreigners making the trip to Victoria specifically to take advantage of these services.
There are thousands of reasons to visit Victoria. Locals have the opportunity to play tourist in their own backyard, visiting the snowfields of Falls Creek, the beaches of Torquay, the fruit growing regions of the Murray River, or the rugged natural expanses of the Grampians.
One word to describe the Victorian property market, would be growth.
This growth has occurred from the centre of Melbourne out and is now touching towns up to two hours away from the city, as buyers look for an affordable property that is still within striking distance of the Melbourne CBD.
Once considered separate townships like Mornington in the south or Bacchus Marsh in the west. These areas have now become part of the urban landscape despite being up to a one and a half-hour drive from Melbourne CBD. Many people are choosing to live in major regional centres like Geelong and Ballarat, which are a similar distance - and because of infrastructure investments, often a quicker ride - from the centre of Melbourne.
When you look at the data, the effect that this endless expansion has had on nearby towns and satellite suburbs is plain to see. Average house prices in Geelong rose from $460,000 to $700,000 between 2011 and 2019. They rose from $300,000 to $500,000 in Ballarat Central, and from $520,000 to $800,000 in Mornington in the same period. And even these elevated prices are still perfectly affordable when compared to the house prices of inner Melbourne suburbs, which commonly hit the $1.5 million mark.
But while property prices in established Victorian towns and outer suburbs are growing fast, there is a more affordable option: house and land packages in new communities. Lacking a reputation, and often being located on undeveloped land on the suburban fringe, properties in these developments can be priced below $400,000 for a brand new three-bedroom home on a healthy parcel of land.
Finding the perfect House and Land Package in Victoria
House packages offer current or new residents of Victoria a beautiful and cost-effective way to enter the local property market. You get a brand new home, often on a generous portion of land, and all at a price you can afford.
Several Victorian regions have become a focus for developers in recent years. Let’s take a look at a few of the most popular areas and the significant developments within each.
Where to find House and Land Packages in Victoria's West
- Thornhill Park Estate, Rockbank
- Majesty Estate, Plumpton
- Soho Marigold, Tarneit
Perhaps the area with the most significant amount of development activity today, the land between Werribee and Bacchus Marsh, is still surprisingly open, particularly when you consider how close it is to the Melbourne CBD in comparison to the city’s more developed east.
Thornhill Park Estate, Rockbank
Promising to balance big city convenience with openness and nature, Thornhill Park Estate sits just east of the suburb of Melton, a quick and easy 40-minute drive to and from the CBD. Three-bedroom properties start at only $350,000!
Majesty Estate, Plumpton
Majesty Estate is the newest of several developments in the Plumpton region. Along with the perks of CBD access and fresh country air, the benefit of being in later development is that Plumpton already boasts a good level of established amenities. Generous house and land packages start at $450,000.
Soho Marigold, Tarneit
A boutique selection of just seven eye-catching homes, Soho Marigold is a development for those that enjoy the finer things in life. And happily, for buyers, this new community offers luxury at a perfectly reasonable price.
A development designed with families in mind, Accolade is defined by its intelligent design, where greenery and shared spaces don’t get in the way of convenience and amenity. A three-bedroom house on a 260m² block can be secured for less than $400,000.
Where to find the best House and Land Packages in Melbourne's North
- Acacia Village, Wollert
- Timbarra, Beveridge
- Wallanbrae, Wallan
- Mayfair Park, Greenvale
Formerly grazing land, the area north of Craigieburn, including Wollert, Beveridge, and Wallan, has recently been identified as a fantastic opportunity by developers and offers some of the best value in Melbourne.
Acacia Village, Wollert
Just 25km north of the CBD, it’s fair to say that Wollert can no longer be called a satellite suburb. And this desirable location, along with fast-improving infrastructure and amenity levels, has seen interest in the suburb soar of late. Acacia Village is one of the pre-eminent developments in this high growth corridor, with house and land packages starting at $500,000.
Located 45km north of the CBD, Beveridge is all rolling hills and surprisingly open pastures. With 270 sites from 222m² to a huge 677m², the Timbarra development seeks to bring a bit of city convenience to this slice of the country, with four-bedroom homes available for under $500,000.
With Melbourne a 45-minute drive south and the regional centre of Kilmore just 10 minutes north, Wallan is ideally placed to offer its residents both the charms of the country and the comforts of the city. And the Wallanbrae community perfectly encapsulates this balance, with homes available for under $400,000.
Mayfair Park, Greenvale
Leafy Greenvale is set to become one of northern Melbourne’s most exclusive suburbs, with the Mayfair Park community bringing serious class to an area already replete with schools, shopping, recreation, and public transport. House and land packages start at $530,000.
Where to find the most affordable House and Land packages in Geelong and it's surrounds
- QUAY2, Torquay
- Allure, Leopold
- Jetty North, Bellarine
- Watermark, Armstrong Creek
An hour and fifteen in the car or less than an hour by train, Geelong’s proximity to the Melbourne CBD has always been a big selling point. But having grown into a destination, all its own, nearby townships like Torquay, Leopold, Armstrong Creek, and Bellarine are now riding Geelong’s coattails.
Port Phillip Bay isn’t known for its swell. But lovers of surf needn’t fret - you can still get your fix while staying within striking distance of Geelong (and by extension, Melbourne.) The QUAY2 community in the famed surf town of Torquay offers perfectly beachy house and land packages for as little as $600,000.
The Geelong area’s newest premium address, Allure Leopold dances on the edge of Lake Connewarre and offers its residents a life amongst the incredible natural beauty of the area. But modern life is still perfectly accessible, with the Geelong CBD just a15 minute drive away.
Jetty North, Bellarine
Eighty lots located on an elevated parcel of land means that residents of Jetty North in Bellarine are afforded unobstructed views of the surrounding water, with the glimmer of Melbourne shining over Port Phillip Bay on a clear night. Happily, such beauty doesn’t cost the world, with house and land packages starting at less than $500,000.
Watermark, Armstrong Creek
Watermark is 10 minutes from the Geelong CBD and 15 minutes from the surf and sand of the coastal townships to the south, Watermark at Armstrong Creek offers all the ingredients for a happy life. What’s more, you can secure a house and land package for as little as $470,000 in this excellent spot.
Where to find House and Land Packages in Southeast Melbourne
- Everlea, Keysborough
- Nelson Place, Casey Fields
- Circa 1886, Clyde North
- Altius at Cardinia, Pakenham North
Several new communities have recently popped up in the area south of Dandenong, with many utilising land reclaimed from industry. It’s here that you’ll find some of the most ‘suburban’ developments in Melbourne, with levels of service and infrastructure levels that other new communities may initially lack.
Family-friendly, convenient, and featuring beautiful park frontage, Everlea is a townhouse development designed to offer perfectly modern city living. Located just a 40-minute drive from the centre of Melbourne, the expertly designed architecture and layout makes this a stunning, as well as surprisingly affordable, place to be. Prices start at $555,000.
Nelson Place, Casey Fields
An allotment situated between the Casey Fields sporting complex and the Royal Botanic Gardens Cranbourne, Nelson Place boasts some seriously green credentials. And with house and land packages starting at just $460,000, what’s not to like?
Circa 1886, Clyde North
A masterplan of over 500 lots, house, and land sales in Circa 1886 are now down to the last stages, and there’s a reason for the development’s popularity. Location, convenience, safety, and beauty combine in particularly affordable house and land packages - as low as $450,000 for three bedrooms.
Altius at Cardinia, Pakenham
Altius has generous lots measuring a minimum of 322m². Easy freeway access for a comfortable journey into the Melbourne CBD. A growing town precinct offering all that you’ll ever need, including schools, shopping, parks, and health providers; the popularity of Pakenham’s Altius development perhaps shouldn’t have been a surprise!
South Gippsland is the ideal location for anyone who craves fresh country air, but who also needs occasional access to the big city. While developers are yet to focus on this area entirely, development looks likely to be centred on the townships of Korumburra and Leongatha, both of which are situated less than two hours’ drive from the Melbourne CBD.
As the hub of the region, Leongatha is the natural place to develop a new community in South Gippsland. Access to the South Gippsland Highway means that the CBD of Melbourne is less than a two-hour drive away, while popular weekend spots like Wilson’s Promontory and Phillip Island are right there on your doorstep.
Fifteen minutes closer to Melbourne, Korumburra is an ideal home for anyone who appreciates country living, but who also may only need to head into the city from time to time. Property buyers can expect to get incredible package prices in the area, and the value of their property will only go up as the city of Melbourne continues to expand.
Should I buy a house and land package?
In a volatile and unpredictable property market, house and land packages in Victoria offer excellent value, stability, and growth. There’s no better way to enter the Victorian property market for anyone looking to buy a brand new home to call their own—cost-effective, built to your needs and located in carefully thought out communities.
Choosing the right community and package for you will require a little bit of homework. You’ll need to weigh up several factors, including a budget, location, and local amenities.
Happily, for investors, there is a wealth of house and land options in Victoria. Once you understand what it is that you’re looking for, you’re more than likely to find a home that fits the bill.
Why not start searching today?
Conveyancers for House and Land Packages in Victoria
Looking to buy a house and land package in Victoria, you may need to consult a conveyancer in your journey. We have compiled a list of conveyancers that could assist.
Low-Cost Conveyancing Services offer a broad range of services to assist you in your next residential property transaction.
Located in the growth area of Point Cook - Point Cook Conveyancing is an experienced, licenced conveyancer that can assist you with the process of buying residential real estate.
Mortgage Brokers for House and Land Packages in Victoria
Empower Wealth is a full advisory service that can assist you in finding the right finance solution for your new home. They provide a comprehensive service to guide you to find the perfect solution for your situation with access to a broad range of lending products.
Steve Keramidas founded Mortgage Compare Plus in 2016. Mortgage Compare Plus can help guide you through the process of finding the right construction loan for your house and land package purpose, carefully guiding you to find the right lending product for your situation.