General News
20 December, 2024
Experts agree affordability drives housing market
Affordability, the lifestyle and access to mine sites like Donald Mineral Sands keep the housing market stable and ticking along nicely in towns like Minyip and Warracknabeal, according to those who know the local market.
Expert opinion from local agents Jock Uebergang, Harcourts Horsham, and Nick McIntyre, Elders Warracknabeal, echo findings released last week that show properties in the Wimmera are among the most affordable in Victoria - or in Minyip's case - Australia.
By Core Logic, the "Best of the Best 2024" revealed the median value of houses in Minyip was $173,002 in the 12 months ending September 2024, while Warracknabeal houses had a median value of $204,374.
Mr McIntyre said the findings don't surprise him - and in his opinion, affordability in house prices is evident across the Shire.
"There has always been outside interest, people from Melbourne, they have always been coming up here as a good investment or option for retirement," he said.
Mr McIntyre said services heavily weighed on where people looked to move - and the education options and hospital system were appealing, when considering the move to a place like Warracknabeal.
In agreeing the housing market in both Minyip and Warracknabeal is affordable, Mr Uebergang said it was his opinion people were looking to invest or move to places like these towns for the lifestyle, which is more relaxed, or for access to mining sites or clean energy future projects.
While mining sites and future projects are a changing landscape, the lifestyle hasn't changed - and Mr Uebergang said despite not necessarily seeing an increase in the market for houses in these towns over the past 12 months, it's steady.