For buyers looking at growth areas, Kala in Pakenham East stands out as an exciting opportunity, offering both value and long-term potential. Here’s why now might be the perfect time to secure your piece of Kala.
Rapid Population Growth
Pakenham East is set to experience strong population growth, with estimates predicting around 23,000 residents (Cardinia Shire Council, 2024). This Pakenham East precinct will deliver over 7,000 homes across 630 hectares, along with 1,436 jobs, four schools, 14 parks, and 3 integrated community centres. With its strategic location and sustainable design, including extensive bicycle paths and public transport links, the demand for housing will increase, driving up property values and making it a prime location for future development. This demographic boost is a key indicator of a thriving community with excellent investment potential.
Competitive Entry Prices
Kala offers a great entry point into the property market. Starting prices for a 3-bedroom home at $573,000 and a 4-bedroom at $623,000 are competitive compared to nearby areas. These prices are well below the median for both metropolitan areas, where the median price for a 3-bedroom home is around $807,500 (REIV, 2024), and regional Victoria. This means Kala represents excellent value for those looking to make a smart investment.
Strong Rental Yields
Pakenham’s rental market is robust, with vacancy rates in the region at historical lows, similar to the broader Victorian market, which has seen a rental vacancy rate of just 1.5% (Urban Property Australia). Rental properties in the area offer impressive returns, with a 3-bedroom property fetching $480 per week and a 4-bedroom home averaging $550 per week, which is notably 0.7% higher than the average for metropolitan Melbourne (REIV, 2024). This makes Kala an attractive option for investors seeking better returns.
Consistent Price Growth
Over the past five years, property values in Pakenham have shown an annual growth rate of 7%, demonstrating the area’s resilience and ongoing appeal. This aligns with broader trends in Melbourne and Victoria, where housing demand continues to outstrip supply, leading to steady price increases (REIV, 2024). For investors, Kala offers the potential to benefit from continued capital appreciation as the area grows.
Infrastructure and Future Development
Pakenham East is well-positioned for future growth, with planned infrastructure developments including new schools, parks, and transport links. Already, the newly opened East Pakenham train station is up and running, servicing local commuters and offering convenient transport for future Kala residents just 10 minutes away. As the suburb matures, these improvements will enhance liveability and drive further demand for housing. Investing now means you’ll be positioned to benefit from the suburb’s growth and the accompanying increase in property values.
The Victorian Market Outlook
The Victorian property market is beginning to rebound after a period of price adjustments. With interest rates stabilising and rental yields strengthening, now is an opportune time to enter the market. Across Melbourne, rents have grown by over 9% in the past year due to record-low vacancy rates (REIV, 2024). As economic conditions improve, the demand for housing—particularly in growth corridors like Pakenham East—will only increase, providing further upside for investors.
Don’t Miss Out!
With only a few lots remaining in Kala’s latest release, now is the perfect time to make your move. Contact our Sales Assistant, Matthew, today or call 1300 809 194 to secure your investment in one of Victoria’s fastest-growing suburbs!