Echuca

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<div class="column"><span>A good autumn with most of the area receiving around 100 millimetres of rain during March and early April has instilled early confidence in a reasonable season in the Echuca and Deniliquin markets, according to the June Herron Todd White (HTW) rural report. </span></div>
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<div class="column"><span>The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. </span></div>
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<span>Combined with the long term forecast of good rains for the 2020 winter season, the general outlook for the rural sector is good, the report noted. </span>
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<div class="column"><span>Locally, farmers are quite confident of a good season and reasonable commodity prices despite the obvious impact of COVID-19.</span></div>
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<div class="column"><span>Agents are reporting a gradual increase in enquiry for rural property over the past month or so that will no doubt translate into a gradual improvement in sales activity.</span></div>
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<div class="column"><span>"We are aware of two sales contracted in late March that are at levels similar to pre COVID-19."</span></div>
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<div class="column"><span>A significant influence in the market has been the low interest rates and the perception that interest rates will remain at or around this level for the foreseeable future," the valuation firm said. </span></div>
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<div class="column"><span>A mixed irrigation and dryland holding to the south of Deniliquin contracted for sale in April 2020 for about $10 million, showing around $2450 per hectare excluding water. </span></div>
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<div class="column"><span>The purchasers were local farmers, indicating plenty of confidence and strength in the market place, the report notes. </span></div>
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<div class="column"><span>"At this point in time, the general outlook for rural values in the area is for values to steady or see a slight rise," the valuation firm said. </span></div>
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<div class="column"><span>A Carag Carag farm has recently been sold for $335,000.</span></div>
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<div class="column"><span>The property at 662 Blamey Road (pictured below) features four bedroom homestead, colorbond shed, internal fencing and native garden. 'Currently the farm is used for grazing stock.</span></div>
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<div class="column"><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/carag%20carag.jpg" alt=""></span></div>
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<div class="column"><span>A current listing is Yallum Vale, a 422ha Dairy farm in Echuca priced at $3.8 million.</span></div>
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<div class="column"><span>The 1151 McKenzie Road property (pictured below) includes two homes on separate titles, 50-stand rotary dairy and machinery shed. </span></div>
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<span>It is located just 10 minutes south east of Echuca. </span>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/echuca%201.jpg" alt=""></p>
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j.ballantyne1990-6AQqhLzZaK

Echuca and Deniliquin rural markets remains steady: HTW rural

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<p><span>Positive conditions have instilled a high degree of confidence in the Echuca and Deniliquin regions, according to the valuation firm Herron Todd White’s latest rural report.</span></p>
<p><span>A well above average season in regard to crop and fodder is expected due to most of the area receiving around 100 millimetres of rain throughout autumn, plus good follow-up winter rainfall, says HTW director John Henderson.</span></p>
<p><span>“The overall result of this confidence in the seasonal outlook in the area has translated to a rising market”, Henderson said.</span></p>
<p><span>Some degree of uncertainty about the outlook for commodity prices in the short-term remains.</span></p>
<p><span>The report noted recent sales that showed a $1,000 per hectare rise, including a batch of well-developed irrigation properties close-by the Finley district sold for $5,435 to $6,175 per hectare.</span></p>
<p><span>This is compared to similar properties which sold for $4,570 to $5,065 per hectare in December 2018 to February 2019.</span></p>
<p><span>“The rising market is a feature of most of southwest New South Wales and northern Victoria, with agents reporting strong enquiry in the region.”</span></p>
<p><span>The general outlook for the region is for rural values to continue to rise.</span></p>
<p><span>However, the report notes that uncertainty around key commodity prices may start to influence decision-making in the near future.</span></p>
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Rural values continue to rise in the Echuca and Deniliquin regions: HTW Rural

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<p>Echuca in Victoria is the closest settlement on the Murray River to Melbourne, and valuation firm Herron Todd White take a look at properties in the sub-$500,000 in their July 2016 residential market report. </p>
<p>“The lazy half a million buys a very good standard residence on a standard block in most of Echuca and Moama and those shopping around are even likely to find ancillary improvements such as a pool and sheds depending on how much quality they are prepared to trade off,” says the HTW report.</p>
<p>While the rental market has been a little slow, whether this is seasonal or a consequence of building supply coming on line to cater for tighter rental markets over the past 12 months is hard to tell though the market typically tightens up coming into spring when new people are coming to town and are on the hunt for reasonable accommodation. </p>
<p>The median price of houses in Echuca is $300,000 while it is $278,000 for units, according to <a href="https://www.urban.com.au/property-observer" target="_blank">CoreLogic RP Data</a>.</p>
<p>Property Observer looked up recent sales around the median price and found a three-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-122854394" target="_blank">7 Illawarra Drive, Echuca, Vic 3564</a> which was bought for $317,000, according to RP Data.</p>
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Victoria's Echuca offers good value for money in sub-$500,000 property category: HTW

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<p>A former fire station in Echuca is for sale for $1,050,000.</p>
<p>Located at <a href="https://www.commercialrealestate.com.au/property/245-249-pakenham-street-echuca-vic-3564-2013020704" target="_blank">245-249 Pakenham Street</a> the property sits on a land size of 1,262 square metres.</p>
<p>It features the fire station itself, a shed for storage, residence as well as vacant land.</p>
<p>This property has the potential to be redeveloped (STCA) into a number of different establishments including private residence, retail premises, office spaces, accommodation or even apartment living as it has been approved for zoned commercial 1.</p>
<p>The property is being offered through Century 21 Rich River Real Estate agents Steve Pain and Andrew Lochhead.</p>
<p>Another former fire station is also currently available <a href="/expert-insights/buying/60827-former-stanhope-fire-station-listed-at-100-000" target="_blank">in the central Victoria town of Stanhope</a>. The property at 48 Birdwood Avenue, Stanhope has been listed for considerably less - it's currently listed for $100,000.</p>
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Former heritage Echuca fire station for sale

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<p>Most agents are reporting a distinct lack of stock across the board in Echuca, but particularly in the standard $300,000 to $400,000 price bracket, according to Herron Todd White’s (HTW) latest monthly market report.</p>
<p>The property advisory firm said that this is having some interesting impacts on the market, including an increasing number of off market transactions as agents have buyers ready. Upward pressure on pricing and, in some instances, some increased pricing for rural residential properties in close proximity to town is also impacting the market.</p>
<p>One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-vic-echuca-123670822" target="_blank">56 Simmie Street</a> (pictured above) that is for sale for $335,000.</p>
<p>The tighter supply conditions has been seen through most market segments with several significant larger sales which appear to have been buoyed by lower interest rates and an expectation that they will remain low in the short term.</p>
<p>These include several sales in excess of $1.2 million in recent times and another property which has allegedly just gone under contract for $2.75 million.</p>
<p>In the Sale and general Wellington areas, the $250,000 to $350,000 continues to perform consistently, according to HTW.</p>
<p>First home buyers and young families generally dominate this market segment, purchasing circa 1970 to 1990, three to four bedroom brick veneer properties in established locations.</p>
<p>The higher end properties, generally being those with asking prices over $650,000, tend to experience longer selling periods, with few buyers active in this market segment. Slowing activity in offshore and onshore gas and oil operations based in nearby Longford tends to impact this market segment.</p>
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Lack of supply in Echuca and Gippsland results in tight property market: HTW

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<p>There is currently good inquiry for larger scale irrigation properties for investment entities looking at assets in excess of $10 million in Echuca, according to Herron Todd White’s latest report.</p>
<p>The property valuation firm says that this demand has been underpinned by the strong 2016 seasonal conditions and the good water resource position and reduced allocation water markets.</p>
<p>It will be interesting to see how the market responds coming out of the 2016/17 season with significantly improved balance sheets relative to 2015/16 despite disappointing grain prices.</p>
<p>Agents report that because of the reduced listings in south west Victoria through the latter part of 2016, the rural property market for 2017 commenced with less than usual stock of property put to the market and this has contributed to a slower than usual kick off for 2017.</p>
<p>There is no denying confidence continues at an all time high, particularly for beef and sheep producers.</p>
<p>Even the dairy industry is continuing to show signs of improving which should translate to the property market. Watch this space.</p>
<p>The limited market activity has been primarily either farmers over the fence expanding and investors seeking scale and quality.</p>
<p>A 23 acre land at <a href="https://www.realestate.com.au/property-cropping-vic-echuca-7858450" target="_blank">208 Anderson Road</a>, Echuca (above) has been listed for sale. It last sold for $92,000 in 1993.</p>
<p>Similarly a mixed farming land at <a href="https://www.realestate.com.au/property-mixed+farming-vic-rushworth-7883038" target="_blank">163 Poulson Road</a>, Rushworth has been listed for $205,000, having last traded for $70,000 in 1985.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/06/163%20Poulson%20Road.jpg" alt=""></p>
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Keen buyer inquiry for irrigation properties in Echuca: HTW

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<p>Strong demand for house and land packages in Echuca is pushing the average price for these products up, according to HTW’s <em>Month in Review: March 2017</em>. </p>
<p>The valuation firm says there are opportunities for first time buyers in the $300,000 to $400,000 price bracket around Echuca, however the average house and land package is pushing closer to $400,000.</p>
<p>“Alternatives at the lower end of the market are units and town houses which are available for between $180,000 to $220,000 for basic units through to $300,000 to $375,000 for relatively modern three bedroom, two bathroom townhouses.,” the report says.</p>
<p>“It is worth considering the demand for rentals and potential gains from depreciation for first home buyers who may look to retain their first properties as an investment, if and when they are ready to move on.”</p>
<p>A house and land package for a three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-123371626?listingType=buy" target="_blank">Lot 40 Park Avanue</a>, Echuca (above) has been listed for $337,500.</p>
<p>Similarly a house and land package for a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-124729842?listingType=buy" target="_blank">15 Magnolia Way</a>, Echuca (below) has been listed for $351,878.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/15%20Magnolia%20Way.jpg" alt=""></p>
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Prices for Echuca house and land packages rising: HTW

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<p>Echuca's residential market continues to remain strong with tight supply, according to Herron Todd White’s (HTW) May report.</p>
<p>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.</p>
<p>“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.</p>
<p>“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.</p>
<p>“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.</p>
<p>“The buoyant agricultural sector has also been a positive for the local economy.</p>
<p>“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.”</p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-124713066" target="_blank">244 Farley Road</a>, Echuca (above) has been listed for $435,000.</p>
<p>Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-125472554" target="_blank">11 Charlton Court</a>, Echuca (below) has been listed for $445,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/11%20Charlton%20Court.jpg" alt=""></p>
<p>A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-echuca-124328474" target="_blank">135 Stawell Street</a>, Echuca (below) was recently sold for $422,500.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/135%20Stawell%20Street.jpg" alt=""></p>
<p>Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-echuca-125123286" target="_blank">204 High Street</a>, Echuca (below) was recently sold for $376,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/204%20High%20Street.jpg" alt=""></p>
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Echuca residential market remains strong: HTW

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<p>Dryland rural properties around Echuca are set to consolidate recent gains with levels in excess of $2,500 per hectare according to Herron Todd White's rural report for June.</p>
<p>HTW said after a fantastic break for the rural sector, the dryland areas such gains are not uncommon in the Riverina, while grazing properties have also been relatively buoyant.</p>
<p>"The market for dairy properties however has been relatively quiet," he said.</p>
<p>"There is some uncertainty surrounding the industry with broader international market trends and agents reporting relatively limited activity."</p>
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Echuca grazing properties relatively buoyant: HTW  

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<p>Echuca investors are looking for yields supplemented by capital growth, according to Herron Todd White’s latest report.</p>
<p>The property data firm says that centrally located residential areas are reporting superior returns.</p>
<p>“Typically investors in anything but central Echuca are looking for yield supplemented by capital growth rather than the other way around in our local markets.</p>
<p>“Changes to tax laws around depreciation have also slightly reduced the amount of items that can be claimed for dwellings in the mortgage belt.</p>
<p>“Nevertheless many centrally located residences are being successfully operated as short term accommodation (AirBnB and established holiday rental management companies along with privately owned and managed residences) with most reporting superior returns above and beyond permanent accommodation,” the report stated.</p>
<p>A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-echuca-421763594" target="_blank">1/319 High Street</a>, Echuca (above) is available for $230 per week.</p>
<p>A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-421761754" target="_blank">23 Cochrane Street</a>, Echuca (below) is available for $460 per week.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/14/23%20Cochrane%20Street.jpg" alt=""></p>
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