Half a million more than enough for Tamworth homes: HTW

Half a million more than enough for Tamworth homes: HTW
Half a million more than enough for Tamworth homes: HTW

Half a million dollars is enough to buy a home in the Tamworth region, according to Herron Todd White’s July report.

The property investment firm says that those wishing to upgrade are the main market.

“The lazy half million gives buyers the opportunity to buy a quality home in the Tamworth region without having to sacrifice any of the creature comforts.

“$500,000 will get you a near new, large brick veneer home of a quality fit-out in the expanding suburbs of Calala, North Tamworth or Moore Creek, or if new is not your style it will buy a renovated brick federation home in East Tamworth or North Tamworth.

“This price range also gives buyers the opportunity to move out of town onto small acreage (one to five hectares) with an older dwelling (1970 up) in original but good condition.

“With the Tamworth median house price sitting around $360,000, half a million dollar houses are certainly not what first home owners or investors are looking for.

“At this price range we are seeing upgraders and families as the main target market.

“The best performer at this price range would be the small acreage properties or the older homes in East Tamworth, both of which are experiencing good growth in land values and capital gains,” the report stated.

Investors can benefit from the return potential in Tamworth Herron Todd White says.

“For investors this price opens up the potential for a modern duplex or older unit block or triplex.

“While these options offer little in the way of capital growth a gross return on investment of 6% to 8% is easily achieved.

“The other option would be to purchase two separate properties, with plenty of reasonable properties available at the $250,000 mark that provide potential for capital growth as well as strong rental returns

“We believe this market will continue to be a strong contender within the Tamworth market.

“With the introduction of the new stamp duty rules for first home buyers and continuing low interest rates, we expect there will be more activity in the $250,000 to $400,000 market which will open up more opportunities for those looking to upgrade and move into the next price bracket,” the report commented.

A four bedroom house at 11 Wickham Street, Tamworth (above) has been listed for $358,000.

A five bedroom house at 83 Crown Street, Tamworth (below) has been listed for $375,000.

Half a million more than enough for Tamworth homes: HTW

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Tamworth Htw

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