Warrnambool investor activity to stay strong: HTW residential
Investor activity in Warrnambool is currently strong and is forecast to stay strong into the long term, according to the August Herron Todd White (HTW) residential report.
The valuation firm took a look at investor activity across the nation.
"Having been crowned Australia’s most liveable region by Ipsos’s annual Life in Metropolitan and Regional Australia report and offering affordable entry into the investment space, especially when compared to other major regional centres, Warrnambool has great prospects moving forward," the valuation firm said.
Warrnambool provides a bevy of potential investment opportunities, the report suggests.
Opportunities range from large scale land subdivisions, city infill, renovate and flip, short stay accommodation as well as the relatively affordable new land and house depreciation path.
"While larger scale development and investment remains dominated by out of town money, the overall investment landscape is still in favour of the local," the valuation firm said.
Most recently, Warrnambool has seen a strong investment drive for the acquisition of larger allotments vacant or featuring older, low quality dwellings, the report suggests.
A prime example of this is the centrally located 53E Lava Street, Warrnambool (pictured above).
It was sold for $442,500 on 13 December 2019.
Set on approximately 888 square metres and comprising two titles, this property also featured an older, conite clad, two-bedroom dwelling providing a very basic standard of accommodation.
Also representative of this demand is 212 Merri Street, Warrnambool ($400,000 on 18 May 2020).
This property is situated opposite the Warrnambool train station and features a two-bedroom dwelling of average condition set on an allotment of approximately 1,541 square metres.