About one hour before the on-site property auction at 1 Glitter Road, the Herald Sun reported that according to the Real Estate Institute of Victoria (REIV), “Land values have skyrocketed in pockets of Melbourne in recent years – despite average block sizes shrinking”.
Diggers Rest featured as one of the suburbs in the article.
Sunbury real estate agents Raine & Horne described the property in Glitter Road as having “great potential” and being located in a “great location”.
The population in Diggers Rest has significantly grown since its inclusion within the expanded Sunbury urban growth boundary and the extension of the electrified metropolitan railway line from Watergardens to Sunbury.
Although future development in Diggers Rest is constrained by the urban growth boundary, Melbourne Airport Environs Overlay and Green Wedge, potential home owners seem keen to invest in this community.
Congratulations to the young couple who made the final bid of $402,000 and will now call Diggers Rest home.
The Herald Sun article can be found via the following link:
https://www.news.com.au/finance/real-estate/melbourne-vic/melbourne-residential-land-values-soar-in-five-years-reiv/news-story/de88ce3c4eec4d7bc6eb16e17f644017