Echuca residential market remains strong: HTW

Echuca's residential market continues to remain strong with tight supply, according to Herron Todd White’s (HTW) May report.

The property valuation firm says that the lack of supply is likely to be temporarily alleviated due to additional supply in both Moama and Echuca.

“The local market continues to be relatively strong with generally tight supply on account of limited residential land supply in the past 12 to 18 months, although this is likely to be alleviated in the short term by additional supply in both Moama and more particularly Echuca,” the report said.

“Average pricing has pushed up in recent times with good demand and limited supply in the $350,000 to $450,000 bracket resulting in an upward shift in demand for properties priced in excess of $400,000 for mortgage belt type properties.

“Melbourne buyers continue to underpin the higher end of the market with several off river sales in excess of $800,000, particularly in Moama for custom built and well finished properties.

“The buoyant agricultural sector has also been a positive for the local economy.

“A slow down in the market in Melbourne or closure of a significant factory would likely affect the higher market segments and mortgage belt segments respectively, although there is likely to be significant cushioning from any metropolitan softening because the local market has not charged ahead at the same rate, with local prices more likely to plateau.”

A three bedroom house at 244 Farley Road, Echuca (above) has been listed for $435,000.

Similarly a four bedroom house at 11 Charlton Court, Echuca (below) has been listed for $445,000.

A four bedroom house at 135 Stawell Street, Echuca (below) was recently sold for $422,500.

Similarly a three bedroom house at 204 High Street, Echuca (below) was recently sold for $376,000.