Top end of Emerald market hitting new highs: HTW residential

Top end of Emerald market hitting new highs: HTW residential
Top end of Emerald market hitting new highs: HTW residential

the Emerald property market is still trending upwards, but buyers do appear to be showing caution, according to a recent Herron Todd White (HTW) residential report. 

The report notes that sale volumes are below previous expectation, while the bottom end of the market has lifted to around $200,000 for houses.

"For the right product, we have seen values come back to within around 10% to 15% of the peak experienced in 2011 and 2012," the valuation firm said. 

The space to watch currently is vacant land sales with the top end reaching new highs in recent times, it said. 

"The wow factor this year to date has been the top end and two sales over the $1 million mark," the valuation firm commented. 

One of the sales is a resale from $890,000 only six months prior.

This same property sold at the bottom of the market for $635,000.

"So you can see that for the right product - modern, good location, good ancillary improvements, multiple buyers - values are pushing up," the valuation firm said. 

A five bedroom house in the Selma Rise estate has recently been sold for $495,000.

The family home at 22 Haswell Street (pictured above) comprises five bedrooms, kitchen with extensive storage, open plan living and dining areas, theatre room, rumpus room and in-ground pool.

It's within walking distance to the Marist college. 

Top end of Emerald market hitting new highs: HTW residential

A current listing is a five bedroom home located 100 metres to Marist College priced at $829,000.

Nestled on a 900 square metre allotment, the house at 47 Jeppesen Drive (pictured above) comes with five bedrooms, three separate living areas, children's retreat, separate dining, kitchen with European appliances and in-ground pool.

Other features include nine foot ceilings, solar system, ducted reverse air conditioner system and double lock up garage. 

"The market appears slow to steady across the region at present with no increase in sales volumes which is typical before an election and end of a financial year," the report said. 

"If some of the new proposed coal mines in the area start physical construction or production then we will surely see demand higher than supply." 

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Htw Emerald

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