New data by the Real Estate Institute of Victoria has revealed that there are a number of Victorian towns where properties are available for less than $250,000.
The most affordable towns in Victoria are Moe and Morwell, with the state’s lowest median house prices at $165,000 and $170,000 respectively, according to the Real Estate Institute of Victoria (REIV).
Morewell has experienced a double-digit price growth in the last year.
Churchill followed with a median house price of $186,500 and Maryborough at a median house price of $190,500.
Next was Red Cliffs at $203,500, followed by Stawell $210,000. These towns recorded capital growth over the last year with median house prices rising 4.4 per cent and 14.4 per cent respectively.
Myrtleford was mentioned as another affordable option by the REIV at $218,750, as was Newborough at $230,000, Kyabram at $232,500 and Horsham at $235,000.
The REIV data also revealed the towns with the highest number of sales. Mildura ranked first with more than 575 transactions. Next was Traralgon with 380 sales and Warragul with 291 sales.
Other towns with high sales numbers are Ocean Grove at 262 sales, Drouin at 252 sales, Ballarat Central at 251 sales and Highton at 231 sales.