Bacchus Marsh – a town once known as a market garden area for its vast amount of fresh local produce, is now amidst a population and growth boom, becoming a well sought-after location for settling in.
The Australian Bureau of Statistics reported that the population in Bacchus Marsh in mid-2018 was 22,223, and upon collaboration with the Moorabool Shire Council, the VPA estimated that the population is set to double over the next two decades to around 40,000 residents.
So what is drawing the crowd?
This slow pace of life, the wide, open spaces and the relative closeness to Melbourne’s CBD have attracted thousands of new residents to the area over the past decade. Statistics are showing people are relocating from areas such as Werribee, Point Cook and Caroline Springs for better value for money.
Bacchus Marsh attractions:
+ Werribee George State Park
+ Lerderderge Gorge
+ Paynes Orchards
+ Naturipe Fruits & Strawberry Picking
+ Bacchus Marsh Grammar
Bacchus Marsh for property investment:
According to realestate.com.au, the Median property prices over the last year range from $498,300 for houses to $399,500 for units. If you are looking for an investment property, consider houses in Bacchus Marsh rent out for $360 PW with an annual rental yield of 3.8% and units rent for $300 PW with a rental yield of 3.9%. Based on five years of sales, Bacchus Marsh has seen a compound growth rate of 7.6% for houses and 6.1% for units.