Melbourne buyers seek affordable homes in regional Victoria

A new report identifies Bendigo, Greater Shepparton, and Wodonga as the most promising affordable housing markets in regional Victoria. These areas offer attractive alternatives to Melbourne's expensive real estate. The report by PRD Real Estate highlights these locations due to their affordability, growth potential, and lifestyle appeal. Median house prices in these areas are significantly lower than Melbourne's, with Wodonga, Bendigo, and Greater Shepparton offering prices well below the $894,500 Melbourne median. Experts cite rising Melbourne prices, employment opportunities, and hybrid work flexibility as drivers for regional migration. The report suggests these areas present a "golden opportunity" for buyers, especially with potential interest rate cuts.