Clarence Valley has seen rental and capital growth: HTW residential
It is location, aspect and condition that are the key features considered by discerning home buyers in the Clarence Valley, according to a recent Herron Todd White (HTW) residential report.
"Whether it be a rural, ocean or river view, the Clarence has them in abundance," the valuation firm commented.
The report suggests that whilst across the board the Clarence Valley has seen a period of capital and rental growth, albeit by varying degrees, it is the Yamba patch within easy walking distance of its beaches that continues to stand out.
"Its sale prices have climbed at a considerably faster rate than its suburban counterpart to the west, easily proving that demand outweighs supply in the current climate.
"However, it may be the more moderate markets of Grafton, Maclean and other semi-rural villages that may see more stable and resilient capital gains in the long-term. Well, that is the question on everyone’s lips!" the valuation firm said.
A five bedroom riverfront house in Grafton has recently been sold for $650,000.
Set on a 2,742 block, the home at 10 Mark Close (pictured below) comprises master bedroom, four other bedrooms, lounge room and large kitchen.
It's located within close proximity to Corcoran Park boat ramp and jetty, Grafton City centre, schools and playing fields.
"The market is most easily arranged into budget buyers/renovators, upgraders and prestige buyers. While they are separate and searching for something different, they all share a common goal – value for money! Across all market segments, everyone wants a deal."
The renovators are seeking gains, whether it be in future rental income or capital, and are therefore more willing to compromise on condition at the time of purchase.
Upgraders are often seeking a finished product with more space and something that requires little work or effort.
At the uppermost end, prestige buyers are looking for all the conveniences, views and improvements, however not necessarily space or the mowing that extra land involves.
A current listing is a four bedroom family home in Clarence Town with views of the William River with $1.35 million hopes.
Set on an 8,176 square metre block, the house at 3 Deptford Close (pictured below) comprises four bedrooms, kitchen, open plan family/dining area, separate lunge and covered alfresco area with river views.
"the Clarence Valley’s current residential property climate is relatively suitable for all buyers and their needs.
"Ultimately, a buyer’s choice all starts with the fortunate choice between sea, river or land," the valuation firm said.