In the Grampians, the price of a home is on the rise.
Towns like Stawell, in the northern Grampians, are attracting the arrival of investors purchasing mid-range homes to meet the demand of a 15-year rental shortage.
Yet in Halls Gap, the impact of catastrophic fires is still felt, and while the cost of home is increasing, it’s at a notably slower rate.
The area: The Grampians are the backdrop to many holidays and family getaways, rich in waterfalls, scenic trails and Aboriginal rock art.
Towns like Stawell act as a gateway to the idyllic region, and Halls Gap is the popular tourism hub located at the centre.
Image: MacKenzie Falls, Visit Victoria.
Why is it increasing? Terry Monaghan runs Monaghans Real Estate in Stawell. He told the Brolga that people are being cautious with their money, and “holding onto their spare dollars”.
“It’s [the area] also still recovering from the fires in the region,” he said.
In 2024, the region saw 135,000 hectares of national park and farmland burned, costing the local economy approximately $200 million.
Halls Gap: In 2024, the average price for a home in Halls Gap was $614,500. According to data from PropTrack, the number sits closer to $655,000. That’s an increase of 6.6 percent.
Image: Grampians Wine Tours
In real estate terms, this figure is considered “modest” .
“In Halls Gap, it’s a scarcity issue,” Monaghan said. “It’s a discretionary spot where you might spend your spare dollars and buy a holiday house. Now, people are being fairly cautious with their money.”
What that looks like: 4 Young Road, a three-bedroom directly below Pinnacle Lookout, has two separate-living areas and sits on a 604 square metre block.
The price tag? $625,000 to $650,000
85 Scott Road is a five-bedroom home surrounded by bushland. The master bedroom features an ensuite with a bath and each remaining room has built-in robes. It’s a two-storey home featuring a raised deck.
The price tag? $695,000
69 Scott Road is a home with dramatic high-ceilings, and an open plan dining-kitchen area. There are two standard bedrooms, plus an additional ”loft-style” room.
The price tag? $620,000
Stawell: In 2024, homes in Stawell cost an average of $345,00. Now, the average price is $415,000. That’s an increase of 20.3 percent.
Image: Expedia
As seen in Ballarat, Ararat and the Pyrenees, Monaghan said this is due to a “real influx of investors”.
“We’ve had a huge rental shortage for 15 years, and an influx of investors coming and buying the mid-range houses, the 350,000 to 450,000 range, to use as rentals,” he said.
Monaghan added this means there’s “quite a lot of competition” in that range, and stock has below with less houses on the market in the town than usual.
What that looks like: 32 Sloane Street is a three-bedroom weatherboard home. It’s on a 402 square metre block, and it’s located near essential amenities like the local hospital.
The price tag? $375,00
75 Wimmera Street is another three-bedroom abode, with an open fireplace and a lot of wood panelling. The property also contains a shed and comes equipped with a security system.
The price tag? $439,000
40 Leslie Street has a spacious “rumpus” room with a wood fire, three bedrooms and a concrete backyard. It’s centrally located as well, with a split system for heating and cooling.
Header Image: Horsham Holiday Park