Modern family homes driving Horsham sales: Herron Todd White
The value of large modern brick veneer homes have been steadily increasing in value for the last six months, according to Herron Todd White.
Herron Todd White's October Month in Review said the greatest growth has come from four or five bedroom houses on an 800 to 1,200 square metre block around the Wimmera River.
The report said unit sales are limited due to the relative affordability of housing.
"The recent growth in the upper end price bracket from $400,000 to $600,000 is beginning to impact the mid price range older housing stock from $300,000 to $400,000 and small price movements have been experienced in some sectors of this market in recent times.
"The price movement has seldom reached the lower end price bracket.
"An example of this top end growth is the sale of a 3-bedroom, 2-bathroom modern home on McPherson Street that sold in May 2014 for $450,000 and recently re-sold in June 2015 for $470,000 which displays value growth of 4.4% year on year."
