In figures recently released by Real Estate Institute of Victoria (REIV), the median price of a house in regional Victoria climbed to an all-time high of $636,500.

So what do you get for $636,500 in regional Victoria?

REIV regional director Damian Portaro said that depended on where you were looking to buy.

But regardless of location, Mr Portaro said the rising average house price in regional centres was being driven by investors looking to buy a rental property, not people looking to purchase somewhere to live.

"It's buyers' advocates and investors that have come back into Victoria that have led [to] growing prices,"

he said.

"Investors left the market during COVID … and they've come back in and have focused on regional Victoria [because] it's far more affordable than Melbourne — yo

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