Warrnambool housing market heating up: Herron Todd White

Warrnambool housing market heating up: Herron Todd White
Warrnambool housing market heating up: Herron Todd White

The housing market between $300,000 and $400,000 in Warrnambool is hot at the moment, according to Herron Todd White.

Herron Todd White's October Month in Review found three bedroom brick veneer houses in North Warnambool built within the last decade as particularly hot, with interest driven by strong rental returns for investors.

"The drivers behind this market are the strong rental returns investors can expect to achieve and the affordability for young families who want something new without the hassle of building," HTW noted.

"Although there is somewhat of a demand for this type of property we have not seen significant increases in value due to the current supply of land within Warrnambool. This statement is true for the entire Warrnambool residential property market which has seen little increase over the past 24 to 36 months.

"Due to the current availability of residential land and demand for newly constructed dwellings, older constructed dwellings appear to be the property type being hit hardest, with a decrease in value and demand for properties built in the 1980s and mid 1990s. This current trend appears to be sustainable for the foreseeable future."

The local unit market, according to HTW, are in good demand at present with two-bedroom units priced between $225,000 and $275,000, and newly constructed three-bedroom units priced between $325,000 and $375,000.

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

Tags: 
Property News Regional Market

Comments

Be the first one to comment on this article
What would you like to say about this project?