Bacchus Marsh Reputation Grows As Population Swells

Bacchus Marsh is quickly gaining a reputation as one of Victoria’s top performing property markets. Its growing population, key infrastructure upgrades improving access and excellent affordability is reflected in the recent surge in median prices.

Real Estate Institute of Victoria (REIV) data showed that in the September quarter the 2016 median house price in Bacchus Marsh reached $440,000, up 12.8 per cent since the June quarter 2016 and 19.6%* over the same period last year.

According to a new report by property services group Oliver Hume, the outlook for the local property market remains robust and will be driven by strong underlying demand. The population of Bacchus Marsh is expected to increase by over 5,700 people over the next 25 years, an increase of over 87 per cent on the current population. Over the same period, the number of dwellings is forecast to increase a staggering 91%. Bacchus Marsh is located in the Moorabool Shire which is the 2nd fastest growing regional municipality in all of Victoria.

Oliver Hume Director Paul Ciprian said recent price growth was the result of the wide range of affordable housing options and improvements to transport infrastructure in the region which have made access to Melbourne quicker and easier.

Full article: https://www.theurbandeveloper.com/bacchus-marsh-reputation-grows-population-swells