Warrnambool's real estate market - January 22, 2024 - The Standard - video Dailymotion

The Standard

WATCH: Everything you need to know about Warrnambool's property market.

Transcript

00:00 The one thing I'd probably say about Warrnambool is it's consistent.

00:03 The fact that we're on the ocean is probably the main drawcard why people love Warrnambool.

00:08 That's why I experienced such an influx of people from Melbourne during the COVID pandemic,

00:13 that they looked at Warrnambool and saw that we are on the ocean.

00:17 We also have two lovely rivers running through the township as well.

00:21 The two growth corridors have been through North Warrnambool,

00:24 obviously out Moult Lake Road,

00:26 and there's also been a big increase in housing development out in the Dennington area of Warrnambool.

00:32 They are probably, because of that growth,

00:36 they are probably the two areas where we see most house sales.

00:39 In regards to the areas where they're probably the quickest to sell,

00:46 well then you still have to revert back to the inner city central area of Warrnambool,

00:51 which is still the most popular area to purchase.

00:55 And also East Warrnambool,

00:56 property sell very quickly and they're in high demand in that area,

01:01 given the fact that they are so close to the ocean,

01:03 they're also so close to Hopkins River.

01:06 The most surprising increase come about when COVID hit the area.

01:11 We were expecting a decrease in property values,

01:15 where it worked in the opposite direction.

01:17 And just in recent times,

01:20 we thought even now that this shows you how strong the Warrnambool real estate market is,

01:25 with 12 interest rate rises,

01:27 we expected a decrease in property values probably around now,

01:31 but we're finding that no, the market's holding on very well.

01:34 Karaites, you know, your Winslows, your Moorlakes, Tranks, those sort of ones,

01:40 probably tend to be a little bit off Warrnambool's market.

01:43 I think Karaites catching up fast,

01:46 but look, Warrnambool's market's always been very steady

01:51 and probably the gauge of what's happening around it.

01:55 But, you know, Port Ferry, take Port Ferry away,

01:59 because it is a totally different market.

02:01 The other towns really reflect what Warrnambool's doing.

02:05 Warrnambool has just gone strength to strength,

02:08 and it's reflected all across, right across Warrnambool,

02:12 more so in central areas, in your eastern areas,

02:16 and north and northern areas are the favourable spots,

02:22 and the rare opportunities you get down in the south Warrnambool area,

02:26 closer to the beach is always prime positions there.

02:33 The growth of Warrnambool, and it is a good reflection on the whole community itself,

02:41 how it responds to everything.

02:44 We've got good schooling, we've got more education across the board,

02:48 good hospital facilities.

02:51 You've got Deakin out there, which is showing strong signs of where they're heading,

02:57 and above all, it's considered as one of the best coastal towns around.

03:07 [BLANK_AUDIO]

Warrnambool's real estate market - January 22, 2024 - The Standard

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