Traralgon, the Latrobe Valley’s main service centre, combines V/Line rail and highway access to Melbourne. Demand is led by 30-39 year old mortgaged families, with 27% under 18 and a large share in community and personal services. House prices have risen to a $535,000-$575,000 median across sources, with 6.9-8% annual growth and 711 sales in the past year. Units lag, holding at $320,000-$350,000 with near-flat growth. Gross yields are 4.73% for houses and 5.88% for units, while median weekly rents sit at $492 and $370 respectively. Population growth of 7.92% since 2016 and rising house rents underpin demand. Constraints include slower unit turnover at 58-84 days and regional rate sensitivity, with house values ranging from $460,000 to $780,000 by bedroom count.