MILDURA has been identified as one of the most affordable places in Victoria to purchase a unit, despite an 11.4 per cent increase in values over the past year.
A real estate report from CoreLogic, which outlines house and unit prices throughout Australia, has highlighted some of the highs and lows of Sunraysia’s housing market.
Mildura was listed as the sixth most affordable location to buy a unit, with a median value of $269,044, which put the town alongside smaller locations such as Ararat ($260,613), Cobram ($265,851) and Numurkah ($274,344).
Mildura also recorded the sixth strongest 12-month growth in unit values in regional Victoria, with a price increase of 11.4 per cent.
Last year’s report stated that Mildura was the fourth most affordable location to buy a unit, with a median value of $236,685, $32359 less than this year.
Mildura was reported to also have the fifth-highest rental yield for units in regional Victoria, at 5.7 per cent, with the median rental value sitting at $296 a week.
The rental value was lower than most of the other high rental yield producing towns, such as Sale ($351), Cobram ($315) and Wodonga ($341).
Ouyen was listed as the second most affordable town to purchase a house in Victoria for the second year in a row, with a median house price of $183,992.
Ouyen came behind Hopetoun, which had a median value of $178,811.
Thirty-seven houses were sold in Ouyen during the 12 months to September 22, only one more than last year, but the median house price for town increased by $22,962 from last year’s value of $161,030.
Red Cliffs also received a mention in the report, due to its growing rental market.
The town had the third strongest 12-month rental growth in regional Victoria, with a 12.2 per cent increase in prices.
The median value for rentals in Red Cliffs is now $375.
It also had the highest gross rental yields in Victoria, at 5.7 per cent.
