Whitehorse Buyers Agent

The City of Whitehorse is positioned as a key destination for investment because it has access to major roadways and public transport, a growing economy and population, an Educational hub, including Deakin University, a highly qualified workforce, and a variety of lifestyle choices. It is located 15 kilometres east of Melbourne's Central Business District. The local economy in the City of Whitehorse is one of the most adaptable and responsive in the country, making it one of the most dynamic in the region. It boasts a robust and long-lasting manufacturing industry, an established retail sector, and is quickly becoming a leader in the education and health care service sectors.

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About Whitehorse

The City of Whitehorse is a 64-square-kilometer city located about 20-30km east of Melbourne's CBD. The municipality is bordered on the north by the City of Manningham, on the east by the Cities of Maroondah and Knox, on the south by the City of Monash, and on the west by the City of Boroondara.

Whitehorse's most important industries are health care and education. Whitehorse has a higher concentration of them than Greater Melbourne, and they are expected to rise in the future decades. They also serve as export industries, offering goods and services to people and companies outside of Whitehorse.

Whitehorse's economy relies heavily on professional, scientific, and technological services, as well as knowledge-based jobs. The knowledge economy will grow strongly in Whitehorse, and more broadly in Melbourne's Eastern Region, with Box Hill serving as a focal point.

Whitehorse has a higher proportion of young people (33%) aged 15 to 24 than the greater Melbourne average (24%) and they are well-educated. Many people work in the healthcare and social assistance (13%), followed by professional, scientific and technical services (11%), education and training (11%) and retail(10%).

Why Whitehorse?

Federal and state governments create policies and allocate money to national, state, regional, and local economic growth on an annual basis. Because of its strong contact with citizens and business communities, local government is a vital stakeholder and local leader.

In response to their local conditions, the concerns, opportunities, and techniques chosen to enable and promote economic growth can and should differ amongst councils. Local government's ability to recognise and respond to local situations is what makes it so crucial in promoting local and regional economic growth. Local governments, on the other hand, have limited jurisdiction, resources, and a broad range of defined functions.

As a result, it is critical that local governments carefully establish the strategic impact regions, priority focus areas, and economic development principles that will steer economic development in their jurisdictions. Please find the following Important highlights of the City of Whitehorse as per the report published by Ryder Property Research.

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Highlights

Educational hub, including Deaking University
$1 billion APH City Park
$460 million Glen Shopping Centre redevelopment
$100 billion Suburbun Rail Loop
Designated Metropolitan Activity Centre
$683 Million Box Hill shopping centre precinct redevelopment
Strong Price Growth
Connectivity to the CBD, Melbourne airport, easter suburbs, Yarra Valley, Mornington Peninsula and tourism regions.

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Why should you invest in property in Whitehorse?

Whitehorse will account for more than 40% of the knowledge-intensive occupations in the Eastern Melbourne region by 2041. On its alone, Box Hill will account for 15% of the total.
As far as education is concerned, Whitehorse houses the regional campus of the famous Box Hill Institute. Melbourne College of Business and Technology(MCBT) is also located on Whitehorse Road and Deakin University also has its campus in Whitehorse. It also has a number of education institutes for primary education.

Along with health care and education, the rise of knowledge-intensive sectors will create jobs, raise the size of commerce in goods and services, and attract talent and investment to the municipality.
The expansion of knowledge-intensive jobs, as well as health care and education, will result in a future economy with high income and growth.

Population growth, contruction activity and an expanding health precinct will continue to support the Whitehorse economy, while the proposed Suburbun Rail loop will improve connectivity between Frankston and Melbourne Airport, via Whitehorse.

Economy and Amenities

Whitehorse has one of the most dynamic local economies in the country, one that is adaptable and responsive to change. It has a dependable manufacturing industry, a well-established retail sector, and is a rising star in health and education services. The cost of living is also quite low as opposed to the popular cities of Australia. The transportation costs are especially low. The basics like markets, clothing and shoes, rents etc. are quite economical. Hence, its a great option to consider if you're considering moving to Australia.

The gross Regional Product for Whitehorse is $11 billion, representing 2.8% of the gross state product. The Whitehorse economy is spread over housing, health, education, retail, and commercial development.

The most common occupations in Whitehorse are professionals (31.8 percent), managers (13.9 percent), clerical and administrative workers (13.9 percent), technicians and trades workers (10.2 percent), and sales workers (9.8 percent). Whitehorse residents aged 15 and above earn an average weekly personal income of $619.

Single-family homes account for 67.9% of occupied private residences in Whitehorse, while semi-detached, row or terrace houses, townhouses, and other dwellings account for 23.8 percent, flats or apartments account for 7.9%, and other dwellings account for 0.1 percent.

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Whitehorse: Future Prospects

Whitehorse is a well-educated, entrepreneurial, diversified, and cohesive community. Our economic growth is heavily reliant on the international education sector, successful migrant settlement, and the capacity of entrepreneurs and businesspeople to freely apply their skills and trade.

A large-scale infrastructure investment with a focus on local procurement will bring much-needed economic stimulation at the suitable time. We shall maintain sufficient and appropriate facilities for a cohesive, successful community by investing in community infrastructure and a pipeline of future initiatives.

Collaboration at all levels of government is effective to guarantee that our recovery is adequately supported. 

Box Hill and nearby Ringwood have both been identified as Metropolitan Activity Centres (MACs) in the state Government's planning strategy - Plan Melbourne 2050.

The city of Whitehorse is included in the planning for the proposed $100 billion Suburbun Rail loop - a new 90km underground rail link connecting Melbourne's middle suburbs.

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