Cardinia and Casey council areas have been described as offering buyers the chance to purchase land at ’relatively affordable prices’ according to a national property report by Herron Todd White*.
The report breaks down key areas across each state including Victoria, noting that while vacant land in the south east varies, the growth corridors of Cardinia and Casey are the most affordable options for land.
“These areas are particularly attractive to first-homebuyers including newly arrived migrants from overseas. With continued development of schools, amenities and transport options, they are expected to thrive in the future,“ the report highlights.
However, it notes that more developed areas, such as the Mornington Peninsula, come at a ’premium’ due to limited supply.
“While land prices in these regions are higher, the introduction of a new vacant land tax in Victoria in 2026 could lead to an increase in supply and a potential drop in prices for vacant land in areas like Mount Martha, Brighton and Bentleigh,“ the report notes.
Clyde North was noted for having ’plenty of opportunities’ to purchase land for under $1000 per square metre.
“A recent example is the sale of 5 Chimay Street, Clyde North, a 512-square-metre block that sold for $510,000 in May 2025. This highlights how buyers can secure a larger lot of land at a reasonable price in today’s market.“
Clyde North has also seen more than 115 vacant land sales in the past three month, compared to Mount Martha with only 18 sales.
Data from the Real Estate Institute of Victoria (REIV) also revealed that house prices climbed 2.7 per cent and 2.5 per cent in metropolitan Melbourne and regional Victoria respectively, with unit prices also recording 2.1 per cent and 1.4 per cent increases.
The quarterly median data for the period ending 30 September 2025 highlighted that metropolitan unit and apartment price growth was driven by significant gains in outer (3.4 per cent) and middle (2.5 per cent) Melbourne, with a record-setting median auction price of $804,500.
Jacob Caine, REIV Interim CEO, said the latest quarterly data reflects an ongoing improvement in the state’s real estate landscape, and serves as a source of optimism for both buyers and sellers alike.
*Herron Todd White is one of Australia’s largest independent property valuation and advisory firms.
