1970's one bedders and townhouses the pick in Ballarat: Herron Todd White
Demand for 1970's one bedders is original condition within Ballarat's inner ring is going well, according to Herron Todd White, who see affordability and rental demand for this style of apartment attracting sales of around $150,000 at a rental yield of 5%.
The three bedroom townhouse market, according to Herron Todd White's September Month in Review, has seen significant increases in the last five years with supply met by investors.
"This has seen the capital values for the properties hold steady and developers and agents are now reporting this demand is showing some signs of slowing. As such the next 12 months will reveal if an over supply issue is a possibility," the report noted.
"Off the plan purchases for villas and units have been steady in recent months with three developments of 10 to 20 townhouses each in progress within Brown Hill, Ballarat East and Sebastopol. The villa market has shown approximately a 5% to 10% increase in value over the past five years in the sub prime locations.
"This increase has largely been driven by investors looking for positively geared properties with tax depreciation benefits. Given the increase in supply prices should begin to stabilise. "
