Regional Victorian property market defies crash as prices surge in key towns

Regional hubs close to Melbourne like Ballarat are being tipped as having the best odds of shrugging off the current housing market crash. Regional Victoria is shaping up as a property market crash survival zone with early signs it will benefit from Albanese government’s reforms to investor taxes. Cities like Ballarat and Bendigo are already notching heightened inquiry, according to the nation’s top property investment professionals’ industry group. PropTrack’s latest median house value data also shows the top performing house markets across the past year are almost universally in regional areas, with 94 of the 100 best performing suburbs across the state outside of Melbourne. RELATED: Melbourne housing market worst in a decade: 93% of suburbs fall Melb family turns $20k into $120k in a few months New Vic Premier Ben Carroll’s housing warning Morwell in the Latrobe-Gippsland region’s $455,000 median house price jumped a state-leading 32 per cent in the past year, followed by Red Cliffs and Merbein in the state’s north west which both gained 25 per cent. But it’s former gold rush towns with the broadest good news — with 25 of the best performing suburbs in the state in Ballarat or i...