That holiday home or tree-change could now cost six figures less and there’s plenty of choice among the homes listed for sale.
House values have fallen by as much as $100,000 in some regional Victorian towns over the past year due to the rising cost of living, higher interest rates, and plentiful supply of homes for sale.
“There’s definitely a weaker dynamic from a selling perspective,” said Eliza Owen, head of Australian research at CoreLogic. “But from a more micro perspective, the Ballarat area in particular – Smythes Creek, Cardigan, Lake Wendouree and Trentham – could be that because it is a relatively expensive market,” she said.“The more expensive the market is, the steeper the decline it has had over the past twelve months.”
In Venus Bay, Dan Lawrie, director of Alex Scott & Staff Real Estate, said interest in the area dropped off for six to 12 months from early to mid-2024. “Venus Bay, which is more of a holiday destination, and seems to be a relatively high-income, popular retiree market, could be that while economic conditions are a little bit weaker some of the appeal has been lost in the holiday home sales market in Victoria,” she said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WA Nationals Pledge $100 Million for Esperance Desalination PlantThe WA Nationals have committed $100 million towards building a desalination plant in Esperance, aiming to supply water to the Goldfields region. This ambitious plan faces challenges due to the newly established South Coast Marine Park, which could complicate approvals. The party acknowledges the need for federal funding to bridge the significant cost gap compared to Perth's recent desalination projects.
Read more »
Less than $100 a night: 15 cool budget stays setting a new standardHostels are morphing to keep pace with discerning travellers who value social connection and sustainability just as much as more affordable prices.
Read more »
Less than $100 a night: 15 cool budget stays setting a new standardHostels are morphing to keep pace with discerning travellers who value social connection and sustainability just as much as more affordable prices.
Read more »
Canningvale's Royal Splendour Towel Sets Are on Sale for Up to $100 OffInvesting in high-quality towels is a must but can be expensive. However, you can now get Canningvale’s Royal Splendour Towel Sets at heavily discounted prices. From plush 6-piece sets to soft bath sheets and baby towels, there’s something for everyone in this must-shop sale. With savings of up to $100 off select items, you won’t want to miss out on these limited-time deals.
Read more »
Oz Lotto Draw 1616: The $100 million winning numbers you need to know7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Tech Founder Donates $100 Million to Increase Women in STEMTech entrepreneur Robin Khuda has donated $100 million to the University of Sydney to fund a program aimed at increasing opportunities for women in STEM fields. The program will span two decades and focus on western Sydney, offering tutoring, mentoring, and scholarships to girls from partner high schools.
Read more »