All About Hazelwood, Latrobe (Vic.), VIC, 3840

Hazelwood, nestled in the Latrobe Valley of Victoria, offers a unique glimpse into both regional life and an evolving housing market. Over the years, this area has been shaped by its rich industrial history, particularly linked to coal mining and power generation. As a result, the housing market here is characterized by more affordable options compared to larger urban centers, making it an appealing choice for first-time homebuyers and those seeking more space. The housing inventory includes a mix of older, established homes and newer developments, providing ample variety for potential buyers. Despite the affordability, the market is gradually experiencing an uptick in interest from investors and families looking to escape the hustle of city life, slightly driving up demand and influencing property values.

Living in Hazelwood offers residents a blend of tranquility and community-oriented lifestyle. The area boasts lush natural surroundings with easy access to outdoor recreational activities, including parks and trails that promote an active lifestyle. This peaceful environment is complemented by a tight-knit community where neighbors often know each other, contributing to a friendly and supportive atmosphere. Though smaller in scale, Hazelwood provides essential amenities, including schools, shops, and healthcare facilities, ensuring residents have access to necessary services. With its unique mix of affordability, community spirit, and natural beauty, Hazelwood captures the essence of rural Australian living while still being connected to broader regional opportunities.

Hazelwood Real Estate Market Outlook

Thinking about buying in Hazelwood? Now could not be a better time, with just 116 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $942,000 with prices in this suburb ranging from $563,000 to $1,987,000. The aproximate distance to the coast is 38 Km.

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. Incomes in Hazelwood are above average indicating a preference for good quality housing and lifestyle. That ensures consistent price growth. A mix of professions and above average income earners in Hazelwood provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Medium density in Hazelwood necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. With very low industrial sector presence in Hazelwood the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.

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