Located in Melbourne’s south west and 38 kilometres from the central business district, Mambourin is situated in a key growth area which is undergoing rapid population growth and economic expansion.
Melbourne is once again forecast to be Australia’s fastest growing capital city. The most recent population projections from the Federal Government’s Centre for Population suggest Melbourne could overtake Sydney to become Australia’s largest city over the next decade.
Easy access to major employment centres including central Melbourne, various business hubs and activity centres in Melbourne’s west, Geelong and Melbourne Airport make Mambourin an increasingly attractive place to reside and invest.
George Bougias, National Head of Research at Oliver Hume, comments, “Mambourin has easy access to excellent transport infrastructure including the Princes Freeway, Ballan Road, Western Ring Road, Werribee and Melbourne-Geelong railway lines.
“Affordability and strong underlying demand for property, dwelling shortages and continued rental growth are all driving both owner occupiers and investors to Mambourin and Melbourne’s west more broadly.”
“Several demographic and employment trends are also evident including a steady increase in the number of people, especially professionals and other white collar workers, employed in the region,” he added.
A diverse range of industries and employment types are located in the local and regional areas including transport, logistics and distribution, manufacturing, construction, education and training, health care and social assistance and financial and insurance services. The public sector is also a major employer in Melbourne’s west.
“In response to the area’s current and emerging demographics, we are also observing increasing diversity in the types of new dwellings being built,” George continued.
Long-term data for Mambourin is limited as it is a relatively new suburb. However, locations around Mambourin have experienced robust capital growth, according to data from the Victorian Valuer-General.
For example, the broader Wyndham municipality has experienced robust price growth over the long-term (1992 – 2022*) with house prices increasing by over 530 per cent (around 6 per cent p.a.) over this period.
George concluded, “Easy connectivity to both Melbourne and Geelong, Victoria’s second largest city, will also continue to underpin future growth in Mambourin.”
The vacancy rate for postcode 3024 (includes Mambourin, Wyndham Vale and Manor Lakes) remains very low (1.8 per cent as at March, 2023), suggesting an undersupply of dwellings.
*Statistics for 2022 are based on a small number of sales and are preliminary only.
To find your dream abode in Mambourin visit the Windermere Sales Gallery at 275 Greens Road, Mambourin to discuss land and home and land package opportunities.
