To an increasing number of people, Victoria’s Latrobe region is one of the country’s most controversial areas. Sitting atop one of the largest brown coal deposits in the world, it has become synonymous with energy production. But there is a lot more to this unique location than mines and power stations.
Situated approximately 135km east of the Melbourne CBD, Latrobe is part of the broader Gippsland region. Named after the valley and river that significantly shape the landscape, it is quite a quiet and picturesque area. That said, the local population is fairly urbanised, with most residing in three key centres – Traralgon, Morwell, and Moe.
As the most heavily populated part of Gippsland, Latrobe has become a hub for the region’s Government and commercial services. This has created new employment opportunities in the area, complementing the established forestry, manufacturing, farming, and education sectors. It has also helped offset the economic impact of the rolling closures of the area’s coal-fired power stations.
Latrobe has also seen a steady increase in interest from tourists, who are drawn to the area’s striking countryside. Located a short drive from the popular Baw Baw and Tarra-Bulga National Parks, Latrobe is a great base for hikers and bushwalkers. It also enjoys easy access to the Bass Coast and South Gippsland areas, and the historic mining town of Walhalla.
For those considering a more permanent move, Latrobe offers a range of amenities, particularly within the three main population centres. There are multiple schools to choose from, as well as several TAFE campuses and a campus of Federation University. There is also a large selection of sporting facilities, with AFL, cricket, golf, tennis, and soccer being especially popular.
Importantly, most parts of the region also offer a reasonable commute into Melbourne. Each of the major population centres has its own train station, with an approximate travel time of 2 hours into the CBD. This is in addition to strong road links, a network of local bus services, and a regional airport offering charter services.
Luke and Julian each have over 20 years of property investment experience.
For professional buyers advocates, areas like Latrobe hold plenty of interest, but are approached with significant caution. With median prices sitting comfortably below the surrounding areas, and most parts of Melbourne, the region has undeniable investor appeal. However, there are several key considerations that must be kept in mind when assessing local investment opportunities.
Most significantly, it is important to acknowledge that the area is undergoing significant change. As Australia transitions away from coal power, Latrobe’s energy production operations are being progressively wound down. As the local power stations have long been major employers in the area, their closures are creating some market instability.
Beyond that, it is also worth being aware of the area’s unique demographics and high concentration of young families. This is reflected in the large number of educational institutions – and particularly primary schools – located throughout the region. It also shapes the local property market, with detached family homes on larger blocks typically seeing the strongest demand.
Finally, for those considering investing in Latrobe, it is worth noting the subtle differences between the region’s key areas. For example, as it is home to the largest population, Traralgon tends to be the most expensive centre to buy into. That being said, it also has the strongest townhouse and unit market, which provides some of the area’s best rental yields.
As experienced buyers advocates, Search Party Property specialises in helping our clients successfully navigate nuanced markets, like Latrobe. We work closely with investors of all experience levels to identify suitable opportunities and optimise their portfolio growth. We can also help you define your investment goals, set your investment strategy, and stay focused on your progress.
We start by getting to know you, your current financial arrangements, and your hopes for the future. This allows us to tailor an investment plan that truly suits your situation and supports you moving forward. It also gives us an idea of the ideal investment property for you and helps us refine our search criteria.
Based on this, our team of property experts will analyse the available opportunities and shortlist the best options. In doing this, we will consider current market performance, as shown by recent sales and rental results in the target area. We will also investigate demographic trends and infrastructure investment and development plans, to help us calculate the future growth potential.
We will then guide you through selecting, and securing, the property that most closely matches your investment plan. As part of this, we will assist you to do your due diligence and represent you during the sales negotiations. We can also help you plan any renovations required and support you to get the property set up and producing income.
Once all of this is done, we will help you to start planning for your next property… and then the next one. So, whether you need help building your investment portfolio, or just want to discuss the Latrobe market further, we are here for you. Contact Search Party Property today for more information on our offering and how we can help you achieve financial freedom.