Echuca agents indicating selling prices 10% to 15% above initial listing: HTW
Staff reporterDecember 7, 2020
Echuca has been buoyed by the rising value of water, irrigated cropping and grazing holdings, according to the latest report from Herron Todd White (HTW).
The valuation firm found that this has been a continuing trend for nearly 12 months with agents reporting good demand and prices regularly exceeding vendor expectations.
"As one vendor interviewed recently noted, they anticipated to realize in excess of $1.1 million when the property was offered to market," the HTW valuers stated.
After 24 hours, the property sold to several neighbours for an amount in excess of $2 million.
The report noted agents indicating a selling price 10% to 15% in excess of the initial list price (three months ago) albeit with a significant water component.