Hot property in Cranny

By Bridget Brady
LAND is being snapped up quickly in Cranbourne, as the property market continues to boom.
The market is in a strong position, and is tipped to remain so for a few years to come, as a strong demand for housing exceeds supply.
Stockdale and Leggo Cranbourne managing director Malcolm Sloan said the average house price in Cranbourne was about $320,000, but could range anywhere from the higher end of $200,000 well into the $500,000 range.
“There is a shortage of property… there is not a lot of land coming online as quickly as required,” Mr Sloan said.
A big chunk of buyers in Cranbourne were second-time home owners upgrading to bigger houses,” Mr Sloan said.
He said a range of infrastructure already in place in Cranbourne, such as leisure and aquatic centre Casey RACE, was a big drawcard for buyers.
“There are some really good estates with really good sized family homes, so people are upgrading in the area and staying in the area,” Mr Sloan said.
Cranbourne offered a cheaper alternative to the already established Berwick and Narre Warren areas, Mr Sloan said, and there continued to be a shortage in the rental market as well.
Along with the many fast-growing estates in Cranbourne were those just outside the town in Clyde.
There has been strong interest in new residential development Pasadena, which will be launched in Clyde on Saturday.