Hoppers Crossing real estate is proving to be a strong investment choice for landlords.
The price of houses and units in Hoppers Crossing soared from 2008 to 2011 (30-50% increase) before dropping between 2011 to 2013 (10% decrease). In Hoppers Crossing house and unit rents increased until 2011 and then plateaued from 2011 to 2013. Property prices have increased steadily again since late 2013. The rents plateaued (instead of falling) in Hoppers Crossing because the area is relatively established and the supply of new rental properties within Hoppers Crossing increased only slightly. In Hoppers Crossing’s surrounding fringe areas rents actually dropped after 2011 due to an oversupply of new housing, a peak in first home buyers in the previous 3 years (taking tenants out of the market) and a falling economy.
There is a strong indication that the Hoppers Crossing real estate market has recovered with sale times falling considerably. Landlords should view their investments in Hoppers Crossing (and the surrounds) as long term investments. With considerable infrastructure now actually being built in the Hoppers Crossing area, not just being promised, expect sale and rental values to again increase in the coming years.
Interestingly, the Hoppers Crossing council has relaxed its laws around housing density over the past few years and there are numerous small and larger scale sub-divisions completed and in planning for residential dwellings. While this does provide a great opportunity for owners with large allotments, this will further slow the growth of rental rates in the Hoppers Crossing area.
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