Mildura sees only one sale above $1 million in 2019: HTW residential

Mildura sees only one sale above $1 million in 2019: HTW residential
Staff reporterDecember 7, 2020

Most new homes in Mildura single storey and it is unusual for any new homes to be constructed with anything other than brick veneer or rendered hebel panel walls, according to the latest Herron Todd White (HTW) residential report. 

"We are a fairly conservative lot when it comes to housing and most new homes follow the same architectural theme," the valuation firm said. 

The report notes higher value homes tend to be distinguished by being larger, having a higher standard of fittings and more extensive external improvements, but are more often than not built using similar materials and floor plans to more run of the mill properties.

The highest value residential sale to have occurred this year is a house situated in Carramar Drive, which sold for $1.475 million (pictured top).

This house was built in the 1970s and has a very dated appearance, however has the appeal of overlooking the Murray River.

"Buyers know that there are few such buying opportunities each year and so are prepared to accept the need for renovation if they get the benefit of river frontage," the valuation firm said. 

"Interestingly, there has been only one sale in our region above $1 million so far in 2019, whereas there were over ten sales above $1 million in 2018, including two that were over $2 million." 

The most probable scenario is that there have been simply fewer prestige homes advertised for sale this year, following an unusually high number in 2018.

The report notes meanwhile for those not afraid of something different or who perhaps have a leaning towards doomsday preparation, a former World War II fuel storage bunker at 2 Nemstas Lane, Yelta (pictured below) , about 18 kilometres north-west of Mildura is currently being advertised for sale.

Mildura sees only one sale above $1 million in 2019: HTW residential

The current owner has recently converted the structure into a dwelling, which is fitted out to a good standard. From the inside, the only difference is the lack of windows and, we suspect, a pleasant ambient temperature.

The bunker is built out of 30 centimetre thick concrete walls. To keep it safe from prying eyes and any fighter bombers, it is also set into the side of a hill.

Editor's Picks