Ballina's healthy market conditions expected to continue in 2020: HTW residential

The coastal areas throughout the Ballina Shire saw some modest increase in value levels throughout the second half of 2019 and early indications are that buoyant market conditions are expected to continue in 2020, according to the latest Herron Todd White (HTW) residential report. 

The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas in February. 

"Local agents report moderate levels of enquiry and low levels of stock, particularly within more sought after locations," the valuation firm said. 

An oversupply of vacant land in the Lennox Head and Skennars Head market has been somewhat of a concern over the past few years, however the demand for this product appears to be enough to dismiss any such concerns, at least in the short term.

A Lennox Head coastal house has recently been sold for $1.51 million.

It was offered to the market first time in 98 years.

The three bedroom, one bathroom house is located at 5 Stewart Street (pictured below). 

It's located only 100m away from the Lennox Village and one block away from the Seven Mile Beach.

A current listing in Skennar Head is a five bedroom home priced at $1.265 million.

The family house with extra two bedroom flat is located at 39 Killarney Crescent (pictured below).

It features entertainment areas, saltwater pool, separate study/lounge and kitchen overlooking the outdoor area. 

The proximity to Byron Bay and surrounds, coupled with the very limited amount of vacant land available for sale throughout the Byron Shire would also limit any sort of correction should an oversupply occur within this sub-market.

"In summary, healthy market conditions are expected to continue throughout the Ballina Shire on the back of low interest rates, with more sought after locations benefiting from the strong markets in Sydney and Melbourne," the valuation firm said.