Renovation work in Horsham rising in popularity: HTW

Buying and renovating residential properties have become popular in Horsham, according to Herron Todd White’s latest report.

The property investment firm says that housing affordability is one of the main driving factors.

“The interest in buying and renovating residential properties has been increasingly popular within the Horsham market due to two main driving factors: housing affordability and the increasing popularity of home renovation shows.

“The renovation sector is dominated by owner- occupiers, using this opportunity to enter the property market and slowly develop a house into a home.

“Investors generally do the bare minimum to a property, only making it attractive to prospective tenants.

“The Horsham West area is becoming increasingly popular with buyers, due to its many older style homes that provide an opportunity to be renovated.

“If done to a tradesman like quality, these can achieve greater returns if looking to on-sell.

“While it is an increasingly popular pastime, renovators looking to on-sell a property must always keep in mind the current market conditions and be sure not to over capitalise in order to recoup the cost of the renovation,” the report stated.

A four bedroom house at 233 Blue Ribbons Road, Horsham (above) has been listed for between $435,000 to $465,000.

Similarly a recently renovated four bedroom house at 32 Searle Street, Horsham (below) has been listed for $257,000.