House prices in Wyndham Vale and Tarneit are set to increase following the opening of Regional Rail Link, according to a Wyndham real estate agent.
Hocking Stuart Werribee director Julian Conte is tipping the two suburbs will be at the top of home buyers’ list following the opening of the new railway stations on June 21.
He labelled the stations the “most positive” thing to happen to Wyndham Vale and Tarneit since the suburbs began to be developed.
Wyndham Vale and Tarneit are already enjoying some popularity among home buyers, with house prices among the most affordable in Wyndham, but Mr Conte expects to see a surge of buyers in the coming months.
The Real Estate Institute of Victoria reports the median house price in Wyndham Vale in the March quarter fell to $335,000, down from $356,000 in the previous December quarter.
In Tarneit, the median house price was $398,000, unchanged from last December.
It is expected that Wyndham Vale and Tarneit will become attractive to buyers who need to commute into the city, as well as migrants who are used to using public transport over cars.
He said for these people, the closer a property is to a train station, the better.
“Being within walking distance or on a bus route to the station will appeal to people because they can leave their car at home,” he said.
Mr Conte said the presence of the train stations told buyers that the suburbs had a future whereas five years ago they were not even on the radar.
“People are confident spending there because they know their money is safe and that they will get a good return on their investment,” he said.
