Warrnambool Realtor Says $ 1 Million Plus Properties Are Becoming More Common | The standard

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A million dollar house was once considered upscale and just for high income earners, but it is becoming more common and “handy” in today’s Warrnambool real estate market. Harris & Wood Real Estate agent Danny Harris said the family homes were selling for over $ 1 million and were no longer luxurious or exceptional, as the price would have previously suggested. “In terms of price and direction, for residential real estate, a purchase over a million dollars is no longer rare,” he said. “Anything that was around $ 1 million was considered very high end. It’s absolutely the top half of our market now, but that’s not what we define as high end anymore. the reach of a lot of people now. “We’ve sold five homes between $ 1 million and $ 2 million in the last five weeks.” “They go anywhere up to an acre, but all are still what you would call residential properties, “he said. others on larger lifestyle blocks.” Anyone who’s already in the market and established, if they increase their workforce, finds that they have a decent capital to invest in a purchase. “Mortgage rates are so low now that there are a lot of people earning a salary that will allow them to do it comfortably.” An example of cash-in buyers is that of the 45 groups that have inspected a four-bedroom house on Howard Street, which should sell for r over $ 1.35 million. “The vast majority have over a million dollars to spend if they find the right property.” Mr Harris said that while the numbers were not unusual for Port Fairy, they were relatively new for Warrnambool. “We’re used to seeing these numbers in cities and coastal towns, but it’s only been in the last 12 or 18 months that this has happened to us,” he said. “We certainly don’t outperform other coastal areas, between here and Geelong and the Mornington Peninsula. While the prices here strike us as a little shocking, they are still pale in comparison and I think they are pretty good value for money. , compared to what’s going on in these others “They’re still very far behind these and that’s why people see value in Warrnambool.” Our reporters work hard to provide local and up-to-date news to the community. This is how you can access our trusted content:


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