Victoria's Echuca offers good value for money in sub-$500,000 property category: HTW

Echuca in Victoria is the closest settlement on the Murray River to Melbourne, and valuation firm Herron Todd White take a look at properties in the sub-$500,000 in their July 2016 residential market report. 

“The lazy half a million buys a very good standard residence on a standard block in most of Echuca and Moama and those shopping around are even likely to find ancillary improvements such as a pool and sheds depending on how much quality they are prepared to trade off,” says the HTW report.

While the rental market has been a little slow, whether this is seasonal or a consequence of building supply coming on line to cater for tighter rental markets over the past 12 months is hard to tell though the market typically tightens up coming into spring when new people are coming to town and are on the hunt for reasonable accommodation. 

The median price of houses in Echuca is $300,000 while it is $278,000 for units, according to CoreLogic RP Data.

Property Observer looked up recent sales around the median price and found a three-bedroom, two-bathroom house at 7 Illawarra Drive, Echuca, Vic 3564 which was bought for $317,000, according to RP Data.