Tarneit is a suburb of Melbourne that is located exactly twenty-five kilometres west of the city's business centre. With a population of approximately twenty-one thousand inhabitants, Tarneit is considered to be one of the larger suburban areas within close proximity to the city. It is also worth noting that from a real estate perspective, it is also expected to be one of the fastest-growing regions; figures predicting that up to sixty thousand residents may be possible within the next fifteen years.
This emerging area was initially established as a series of grazing fields during the latter half of the 19th century and well into the first few decades of the 20th century. In fact, Tarneit is still used largely in this capacity although such a purpose has recently been encroached upon by urban sprawl from Melbourne. This is evidenced by the massive amount of residential and commercial growth that has occurred during the last twenty years; numerous retail centres and commercial districts having replaced the previous acres of farmland. In particular, Tarneit is already becoming known as one of the most popular locations to construct shopping centres and there are a great deal of construction projects currently underway.
Thus, Tarneit can in many ways be seen as an excellent real estate opportunity both from the investment and the homeowner's point of view. Long-term projections expect the property values to increase (especially land that is located nearby proposed shopping districts) and housing values are also set to rise in the coming years.
As Tareit is relatively close to Melbourne, it can be expected that families may choose this growing town as a place of residence; the commute is agreeable and many neighbourhoods are considered to be ideal for a growing family. Assuming that further financial liquidity comes into the area, Tarneit should increase in popularity into the foreseeable future.