Regional Victoria · Beyond the big three
Regional Victoria Property Investment
From Shepparton, Echuca and Colac to Warragul, Warrnambool, Wangaratta and Albury–Wodonga: where regional Victoria offers lower entry prices, solid yields and tight rental markets, and where the risks sit.
Most investors who look beyond Melbourne stop at Geelong, Ballarat or Bendigo. Further out, a ring of smaller regional centres offers house and land from the low $600,000s, gross yields around 4% to 5%, and in several towns rental vacancy below 1%.
These are smaller, thinner markets than the big three, so they reward careful selection more than most. This page compares them side by side, explains what drives each one, and shows the current new house and land packages we have been sent.
Sources: PRD market updates (1st half 2026), HtAG and Microburbs suburb data (October 2026), Jellis Craig (September 2026). Yields marked ≈ are our estimate: median rent × 52 ÷ median price.
Regional Victoria at a Glance
Here is how the main regional towns we are seeing stock in compare, using the latest published data for each.
| Town | Region | Median house | 12-month change | Median house rent | Gross yield | Vacancy |
|---|---|---|---|---|---|---|
| Shepparton | Goulburn Valley | $558,500 | +12.8% | $520/wk | 4.2% | 2.3% |
| Tatura | Goulburn Valley | $542,000 | +7.2% | $525/wk | ≈5.0% | n/a |
| Kyabram | Goulburn Valley | $510,000 | +5.1% | $475/wk | ≈4.8% | n/a |
| Echuca | Murray | $655,000 | +6.8% | $556/wk | 4.4% | 0.4% |
| Nagambie | Goulburn Valley | $650,000 | +0.8% | $430/wk | 4.4% | 1.3% |
| Colac | Western District | $520,000 | +7.2% | $498/wk | 5.0% | 0.7% |
| Morwell | Gippsland (Latrobe Valley) | $439,000 | +21.9% | $425/wk | ≈5.0% | n/a |
| Wendouree | Ballarat | $542,000 | n/a | $410/wk | 4.2% | n/a |
Data periods differ slightly by source (Q1 2026 to October 2026). Small towns have few sales, so medians can move sharply. Treat these as a guide, not a valuation.
Regional Victoria Locations We Are Researching
Beyond the towns above, these are the regional centres and corridors we track for investors. Each has a different reason to look, and a different risk to check. Our preliminary view is a starting point for research, not a recommendation to buy.
| Town or corridor | Evidence or growth driver to investigate | Preliminary view | Our research |
|---|---|---|---|
| Gippsland | |||
| Warragul–Drouin | West Gippsland population expansion on the Melbourne commuter rail line, road capacity, health and community infrastructure. | High-priority growth-corridor research. | Read more |
| Traralgon–Morwell | Latrobe Regional Health, rail connections and the economic transition of the Latrobe Valley away from coal power. | Established employment base; investigate future job creation. | Read more |
| Sale | RAAF Base East Sale, oil and gas, and the proposed Gippsland offshore wind zone. | Worth a closer look for employment-led demand. | Read more |
| Bairnsdale | East Gippsland’s regional service centre for health, retail and government services. | Worth investigating for rental depth and affordability. | Read more |
| Leongatha | South Gippsland’s dairy and agricultural service town. | Smaller market; suits buyers seeking affordability. | Read more |
| Wonthaggi | Bass Coast growth, sea-change demand and a regional hospital. | Lifestyle-driven demand; check new estate supply. | Read more |
| Melbourne’s western and northern corridors | |||
| Bacchus Marsh | Melbourne–Ballarat corridor, population expansion and planned housing capacity. | High-priority, but assess land supply carefully. | Read more |
| Gisborne | Macedon Ranges commuter town on the Calder Freeway and rail line, with tightly controlled growth. | Premium pricing; limited supply supports values. | Coming soon |
| Kyneton | Macedon Ranges heritage town with rail access and lifestyle appeal. | Lifestyle market; entry prices above most regional towns. | Coming soon |
| Kilmore | Mitchell Shire growth along the Northern Highway, about an hour from Melbourne. | Active new-estate market; compare against Wallan. | Read more |
| Broadford | Small Mitchell Shire town on the rail line between Kilmore and Seymour. | Niche market; choose land and location carefully. | Read more |
| Seymour | Hume Freeway town with Puckapunyal Army Base nearby and rail to Melbourne. | Defence and services underpin rental demand. | Read more |
| Geelong, Surf Coast and the south-west | |||
| Bannockburn | Planned growth area with capacity for approximately 5,000 homes and 700 jobs. | Strong planning signal; delivery and timing matter. | Coming soon |
| Torquay | Surf Coast lifestyle town on the Great Ocean Road, close to Geelong. | High prices and constrained land; growth-focused buyers only. | Read more |
| Colac | Agriculture, food processing and services at the gateway to the Otways. | Accessible price points and an established economy. | On this page |
| Camperdown | Corangamite Shire’s main town, built on dairy and agriculture. | Small market; strong yields, thinner resale. | Coming soon |
| Cobden | Small dairy town in the Corangamite Shire. | Very small market; for experienced investors only. | Coming soon |
| Warrnambool | Health, education, regional services and planned residential growth. | Established regional centre with a credible long-term demand base. | Read more |
| Portland | Deep-water port, aluminium smelter and renewable energy projects. | Employer-concentrated; understand the major employers first. | Coming soon |
| Western Victoria and the Wimmera | |||
| Ararat | Western Highway town with health, justice and renewable energy employment. | Affordable; check rental depth before buying. | Coming soon |
| Stawell | Gold mining and Grampians tourism. | Small market; employment tied to a few industries. | Coming soon |
| Horsham | The Wimmera’s regional capital for agriculture, health and services. | Solid regional base worth investigating. | Coming soon |
| Mildura | Agriculture, food production, health and regional services. | Significant regional centre, but verify recent demand and supply. | Coming soon |
| Northern Victoria and the Murray | |||
| Echuca | Regional services, tourism and transport links. | Investigate carefully: the Campaspe local-government area recorded a slight population decline in 2024–25. | On this page |
| Benalla | Hume corridor town with health and manufacturing employment. | Affordable entry; a smaller, slower market. | Coming soon |
| Wangaratta | Health, manufacturing, logistics and Hume corridor connections. | Established employment base and worth a closer look. | Read more |
| Albury–Wodonga | Cross-border employment, defence, manufacturing, logistics and regional services. Wodonga is in Victoria; Albury is in NSW. | Strong economic base across two states. | Read more |
| Wagga Wagga (NSW) | The Riverina’s largest city, with defence bases, a university and a regional hospital. | Strong regional economy; NSW stamp duty and rules apply. | Read more |
Our Regional Victoria Shortlist
If we had to rank where to start researching today, this is our order.
- 01Warragul–DrouinPopulation expansion and Melbourne commuter corridor.
- 02Bacchus MarshGrowth corridor, subject to competitive new housing supply.
- 03Traralgon–MorwellRegional employment and health infrastructure.
- 04WarrnamboolEstablished services and a substantial regional catchment.
- 05BannockburnPlanned growth and employment capacity; verify delivery timing.
- 06WodongaDiversified employment and cross-border economic activity.
- 07BairnsdaleRegional services and East Gippsland demand.
- 08WangarattaEstablished employment and Hume corridor connections.
- 09EchucaRegional services and tourism, with population trends to verify.
- 10ColacAccessible price points and an established agricultural and service economy.
Preliminary views reflect our research as at October 2026 and will change as new data arrives. Albury and Wagga Wagga are in New South Wales, where different stamp duty and tenancy rules apply.
Shepparton, Kyabram and Tatura
Greater Shepparton is the Goulburn Valley’s regional capital and one of Australia’s largest food-producing regions, with major employers in food processing, health, education and freight. PRD reports the Shepparton median house price rose 12.8% to $558,500 in the year to Q1 2026, with houses renting at a median of $520 a week and a 4.2% gross yield.
Vacancy in Shepparton has risen to 2.3% over the past year, higher than most towns on this page. PRD also notes about $586 million of new projects due to start in 2026, much of it new residential land. That is good for jobs, but more supply means rents and prices need watching.
Kyabram (median about $510,000) and Tatura (about $542,000) are smaller satellite towns with lower entry prices and estimated gross yields close to 5%. Tatura’s rents have been flat over the past year, so we test the rent appraisal on any package there carefully.
For the full picture on jobs, infrastructure, growth areas and supply, read our Shepparton property investment guide.
The Goulburn Valley suits investors who want cash flow at a lower price point. We favour locations close to Shepparton’s hospital, schools and town centre, and land sizes that will still appeal to owner-occupiers when you sell.
Echuca and Nagambie
Echuca, on the Murray opposite Moama, combines a tourism economy with health, education and agriculture services. Its median house price is about $655,000, up around 6.8% over the year, with median house rents of about $556 a week and vacancy reported below 0.5%.
Nagambie, in the Strathbogie Shire on Lake Nagambie and the Goulburn Valley Highway, is a small lifestyle town with a median of about $650,000. Prices were flat over the year (+0.8%) and PRD reports rents down 14%, although vacancy is low at 1.3%. It is a niche market, better suited to buyers who are clear about why they want to be there.
Parts of Echuca, Shepparton and surrounding towns were affected by the October 2022 floods. We check flood overlays, insurance quotes and the specific estate’s drainage before recommending any property along the Murray and Goulburn river systems.
Colac
Colac is the main service centre for the Colac Otway Shire, about 75 minutes south-west of Geelong on the Princes Highway, at the gateway to the Otways and the Great Ocean Road. Its economy is built on agriculture and food processing, health and services.
The median house price is about $520,000, up around 7.2% over the year. Median house rents are about $498 a week, giving a gross yield near 5%, with vacancy reported under 1%.
New house and land packages in Colac start in the mid-$600,000s, so the gap between new and established stock is wider here than in most towns. That is why we look at land size, location and the likely resale buyer before price.
Morwell and Wendouree
Morwell, in the Latrobe Valley, has been one of regional Victoria’s strongest movers, with the median house price up about 21.9% to $439,000 and rents around $425 a week. It is a lower-priced market that is changing as the Valley moves away from coal power. Our Gippsland property investment page covers Morwell, Traralgon, Moe and Warragul in detail.
Wendouree is an established suburb of Ballarat near Lake Wendouree, with a median of about $542,000 and houses selling in around 27 days. It sits inside one of Victoria’s strongest regional cities. In April 2026 Hotspotting, the research firm founded by Terry Ryder, ranked Ballarat at the top of its national list of affordable locations with prospects. See our Ballarat property investment guide.
For the other major regional cities, see Geelong and Bendigo.
The Risks to Weigh in Smaller Regional Markets
- Thinner resale markets. Fewer buyers means a small fall in demand can lengthen selling times.
- New supply. Large new estates can hold back price growth and soften rents for years.
- Employer concentration. Some towns lean on one industry, such as food processing or energy.
- Valuations. Bank valuations on new packages can come in below the contract price in small markets.
- Flood and insurance. River towns need flood overlay and insurance checks before you buy.
None of this rules these towns out. It means the specific property matters more than the town. We cover this approach in Strategy Before Property.
What’s on the market
New House and Land in Regional Victoria
Packages from builder stock lists sent to us in October 2026, in towns that do not yet have their own page on our site. For Morwell, Traralgon and Warragul see our Gippsland page, and for Wendouree, Winter Valley and Smythes Creek see our Ballarat page.
Current packages · October 2026
56 Packages in Shepparton, Echuca, Colac and Nearby
Lot-by-lot detail from the latest builder stock lists (2 and 16 October 2026), across 9 estates, from $625,500 to $800,500. Where a lot shows more than once, it is offered with different home designs.
Show all 56 packages
| Suburb / estate | Lot | Home | Land | House | Land + build | Total | Titles |
|---|---|---|---|---|---|---|---|
| Colac Clearwater Estate | Lot 603 Moore St | 4 bed | 350 m² | 191 m² | $262,000 + $390,900 | $652,900 | May-27 |
| Colac Clearwater Estate | Lot 602 Moore St | 4 bed | 392 m² | 196 m² | $272,000 + $400,600 | $672,600 | May-27 |
| Colac Clearwater Estate | Lot 606 Moore St | 4 bed | 392 m² | 196 m² | $272,000 + $413,050 | $685,050 | May-27 |
| Colac Clearwater Estate | Lot 604 Moore St | 5 bed | 350 m² | 184 m² | $262,000 + $451,700 | $713,700 | May-27 |
| Colac The Lookout | Lot 226 Road E | 4 bed | 448 m² | 207 m² | $264,000 + $384,200 | $648,200 | Apr-27 |
| Echuca McMahons Place | Lot 231 Road E | 4 bed | 720 m² | 231 m² | $265,500 + $434,040 | $699,540 | Titled |
| Echuca McMahons Place | Lot 231 Road E | Dual key, 6 bed | 720 m² | 239 m² | $265,500 + $519,940 | $785,440 | Titled |
| Echuca Yallarah | Lot 634 Bursaria St | 4 bed | 560 m² | 207 m² | $251,000 + $419,000 | $670,000 | Sep-27 |
| Echuca Yallarah | Lot 634 Bursaria St | 4 bed | 560 m² | 196 m² | $251,000 + $420,900 | $671,900 | Sep-27 |
| Echuca Yallarah | Lot 606 Beech St | 4 bed | 697 m² | 207 m² | $282,000 + $426,900 | $708,900 | Sep-27 |
| Echuca Yallarah | Lot 606 Beech St | 4 bed | 697 m² | 196 m² | $282,000 + $428,700 | $710,700 | Sep-27 |
| Echuca Yallarah | Lot 634 Bursaria St | 5 bed | 560 m² | 184 m² | $251,000 + $463,600 | $714,600 | Sep-27 |
| Echuca Yallarah | Lot 606 Beech St | 5 bed | 697 m² | 184 m² | $282,000 + $469,300 | $751,300 | Sep-27 |
| Echuca Yallarah | Lot 634 Bursaria St | Dual key, 6 bed | 560 m² | 239 m² | $251,000 + $512,800 | $763,800 | Sep-27 |
| Echuca Yallarah | Lot 606 Beech St | Dual key, 6 bed | 697 m² | 239 m² | $282,000 + $518,500 | $800,500 | Sep-27 |
| Kyabram Sunrise Estate | Lot 222 Road | 4 bed | 737 m² | 207 m² | $247,445 + $408,100 | $655,545 | Titled |
| Kyabram Sunrise Estate | Lot 226 Road | 4 bed | 837 m² | 207 m² | $245,850 + $416,200 | $662,050 | Titled |
| Kyabram Sunrise Estate | Lot 209 Road | 4 bed | 781 m² | 207 m² | $245,850 + $416,500 | $662,350 | Titled |
| Kyabram Sunrise Estate | Lot 224 Road | 4 bed | 776 m² | 221 m² | $241,945 + $422,500 | $664,445 | Titled |
| Kyabram Sunrise Estate | Lot 224 Road | 4 bed | 776 m² | 231 m² | $241,945 + $430,000 | $671,945 | Titled |
| Kyabram Sunrise Estate | Lot 222 Road | 4 bed | 737 m² | 239 m² | $247,445 + $434,800 | $682,245 | Titled |
| Kyabram Sunrise Estate | Lot 226 Road | 5 bed | 837 m² | 206 m² | $245,850 + $453,850 | $699,700 | Titled |
| Kyabram Sunrise Estate | Lot 209 Road | 5 bed | 781 m² | 206 m² | $245,850 + $454,150 | $700,000 | Titled |
| Nagambie Elloura | Lot 1111 Camowen Cres | 4 bed | 392 m² | 191 m² | $235,000 + $390,500 | $625,500 | Titled |
| Nagambie Woodlands | Lot 69 Hiller Circuit | 4 bed | 560 m² | 207 m² | $265,000 + $422,800 | $687,800 | Apr-27 |
| Nagambie Woodlands | Lot 64 Hiller Circuit | 4 bed | 640 m² | 207 m² | $271,000 + $417,700 | $688,700 | Apr-27 |
| Nagambie Woodlands | Lot 68 Hiller Circuit | 4 bed | 640 m² | 221 m² | $271,000 + $432,400 | $703,400 | Apr-27 |
| Nagambie Woodlands | Lot 61 Hiller Circuit | 4 bed | 640 m² | 231 m² | $271,000 + $439,100 | $710,100 | Apr-27 |
| Nagambie Woodlands | Lot 62 Hiller Circuit | 5 bed | 560 m² | 206 m² | $265,000 + $470,850 | $735,850 | Apr-27 |
| Nagambie Woodlands | Lot 53 Hiller Circuit | Dual key, 6 bed | 640 m² | 239 m² | $271,000 + $501,100 | $772,100 | Apr-27 |
| Shepparton Parkers Grove | Lot 116 | 4 bed, 2 bath, 2 car | 448 m² | 177 m² | Package | $670,599 | Ask us |
| Shepparton Parkers Grove | Lot 118 | 4 bed, 2 bath, 2 car | 448 m² | 177 m² | Package | $670,599 | Ask us |
| Shepparton Parkers Grove | Lot 119 | 4 bed, 2 bath, 2 car | 448 m² | 177 m² | Package | $670,599 | Ask us |
| Shepparton Parkers Grove | Lot 120 | 4 bed, 2 bath, 2 car | 448 m² | 177 m² | Package | $670,599 | Ask us |
| Shepparton Parkers Grove | Lot 122 | 4 bed, 2 bath, 2 car | 555 m² | 177 m² | Package | $670,599 | Ask us |
| Shepparton Parkers Grove | Lot 105 | 4 bed, 2 bath, 2 car | 460 m² | 177 m² | Package | $672,599 | Ask us |
| Shepparton Parkers Grove | Lot 118 | 5 bed, 3 bath, 2 car | 448 m² | 210 m² | Package | $717,199 | Ask us |
| Shepparton Parkers Grove | Lot 116 | 5 bed, 3 bath, 2 car | 448 m² | 210 m² | Package | $717,199 | Ask us |
| Shepparton Parkers Grove | Lot 122 | 5 bed, 3 bath, 2 car | 555 m² | 210 m² | Package | $717,199 | Ask us |
| Shepparton Parkers Grove | Lot 119 | 5 bed, 3 bath, 2 car | 448 m² | 210 m² | Package | $717,199 | Ask us |
| Shepparton Parkers Grove | Lot 120 | 5 bed, 3 bath, 2 car | 448 m² | 210 m² | Package | $717,199 | Ask us |
| Shepparton Parkers Grove | Lot 102 | 5 bed, 3 bath, 2 car | 539 m² | 210 m² | Package | $717,699 | Ask us |
| Shepparton Parkers Grove | Lot 125 | 5 bed, 3 bath, 2 car | 571 m² | 210 m² | Package | $722,699 | Ask us |
| Shepparton Parkers Grove | Lot 122 Road 1 | 4 bed | 555 m² | 221 m² | $274,000 + $450,350 | $724,350 | Apr-27 |
| Shepparton Parkers Grove | Lot 101 | 5 bed, 3 bath, 2 car | 544 m² | 210 m² | Package | $725,699 | Ask us |
| Shepparton Parkers Grove | Lot 101 McPhees Rd | 4 bed | 544 m² | 231 m² | $281,500 + $461,550 | $743,050 | Apr-27 |
| Tatura Silkwater Plains | Lot 327 Blinkers Rd | 4 bed | 560 m² | 207 m² | $245,000 + $417,150 | $662,150 | Nov-26 |
| Tatura Silkwater Plains | Lot 331 Blinkers Rd | 4 bed | 630 m² | 207 m² | $249,000 + $419,950 | $668,950 | Nov-26 |
| Tatura Silkwater Plains | Lot 324 Resistant Rd | 4 bed | 626 m² | 207 m² | $249,000 + $431,650 | $680,650 | Nov-26 |
| Tatura Silkwater Plains | Lot 330 Blinkers Rd | 4 bed | 630 m² | 221 m² | $249,000 + $433,350 | $682,350 | Nov-26 |
| Tatura Silkwater Plains | Lot 350 Stallion St | 5 bed | 591 m² | 184 m² | $233,000 + $454,350 | $687,350 | Nov-26 |
| Tatura Silkwater Plains | Lot 329 Blinkers Rd | 4 bed | 630 m² | 231 m² | $249,000 + $440,950 | $689,950 | Nov-26 |
| Tatura Silkwater Plains | Lot 336 Davcon Dr | 4 bed | 610 m² | 221 m² | $245,000 + $448,450 | $693,450 | Nov-26 |
| Tatura Silkwater Plains | Lot 330 Blinkers Rd | 5 bed | 630 m² | 184 m² | $249,000 + $448,400 | $697,400 | Nov-26 |
| Tatura Silkwater Plains | Lot 333 Davcon Dr | 4 bed | 626 m² | 239 m² | $249,000 + $451,250 | $700,250 | Nov-26 |
| Tatura Silkwater Plains | Lot 345 Resistant Rd | 5 bed | 626 m² | 206 m² | $245,000 + $471,650 | $716,650 | Nov-26 |
Indicative package prices as supplied by builders in October 2026, before stamp duty and legal costs. Availability changes weekly and is not guaranteed, so ask us what is still available and we will check the lot against our research before you commit.
Regional Victoria Property Investment FAQs
Is regional Victoria a good place to invest in property?
It can be. Towns such as Shepparton, Echuca, Colac and Morwell offer lower entry prices and gross yields of around 4% to 5%, but they are smaller markets, so the specific property, land size and local supply matter more than the town name.
Where can I buy new house and land in regional Victoria under $700,000?
In October 2026 we were seeing new packages from the mid-$600,000s in Shepparton, Colac, Kyabram, Tatura, Echuca and Nagambie, as well as in Morwell and parts of Ballarat.
What rental yield do regional Victorian houses achieve?
Recent data shows median gross house yields of about 4.2% in Shepparton and Wendouree, 4.4% in Echuca and Nagambie, and close to 5% in Colac, Morwell, Kyabram and Tatura, compared with about 3.1% in metropolitan Melbourne.
Strategy Before Property
Find the Right Property, Not Just the Right Town
Tell us your budget, whether you want cash flow or growth, and your time frame. Stephen Lazar will tell you honestly whether regional Victoria fits, and which town and estate to look at.
- PRD Shepparton Market Update, 1st Half 2026
- PRD Nagambie Market Update, 1st Half 2026
- HtAG: Echuca and Colac (September 2026)
- Microburbs suburb data for Kyabram, Tatura and Morwell (October 2026)
- Jellis Craig Wendouree suburb report, September 2026
- Hotspotting, Cheapies With Prospects, April 2026
General information only, not financial, tax or legal advice. Prices, rents and availability change. Seek independent advice before making any investment decision.
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