Regional Growth Plan for Hume highlights investment potential
Anyone interested in buying a house in an up-and-coming region of Victoria should look no further than Hume. The state government recently released the details of a Regional Growth Plan for the area, which aims to emphasise and promote the growth of the region's individual feeling and uniqueness ahead of the impending population boom surging towards the nation. Now could be the perfect time to consider looking into purchasing an investment property in the area and expanding your portfolio.
The Hume Regional Plan was announced last week (July 23) and outlines plans to help the region to continue with strong economic growth and community development to reach a long term goal, striking a balance between preserving the region's livability and accommodating the future growth that is heading towards the state.
Minister for Planning Matthew Guy said bringing the regions and states together in these plans was the best way forward, allowing for the planning and growth of the area to come to light in the coming months.
"The diversity of the Hume region makes it a vital part of the state's future development, with opportunities to build on existing strengths in manufacturing and agriculture and encouraging new investment in industries like renewable energy and extractive industries," said Mr Guy in a July 23 statement.
"The Hume region's array of natural assets, from alpine areas to national parks and water bodies can be protected and will provide additional tourism opportunities. The region's established wine and gourmet food industries will continue to be supported."
The population of Hume is expected to reach 78,000 by 2041, which means a number of key developments need to be undertaken beforehand in order to ensure the region is ready for the influx of residents into the area.
A few of the changes and developments include an ongoing concern for the growth of key regions like Wangaratta, Shepparton, Benalla and Wodonga and pushing for continued awareness of sustainability and community choices.
Furthermore, things like building more transportation amenities ahead of growing freight and logistics developments to support the growing agriculture and tourism industries and protecting the heritage of the wider region are all earmarked as future considerations of the Regional Growth Plan.
Most of the councils in the area are expected to receive funding and aid, which makes the whole region of Hume a wonderful place to consider purchasing real estate in the coming months.