The number of buyers with a budget of more than $1 million for a house in Warrnambool has increased, according to Harris and Wood agent Danny Harris.
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Mr Harris said the demand for properties in this price level was on the rise, despite interest rates also increasing as well as the cost of living crisis.
"What we're finding is that people with budgets in excess of $1 million for properties in Warrnambool is no longer uncommon," he said.
What we're finding is that people with budgets in excess of $1 million for properties in Warrnambool is no longer uncommon.
- Danny Harris
Mr Harris said there was a large number of buyers seeking properties in this price range in the city, but there was a limited number of listings.
Online property website realestate.com.au shows there are 27 listings for sale at $1 million or more.
They include houses and land for sale.
There are eight properties listed on the website for sale for more than $2 million.
One property which has already attracted a flurry of interest is a substantial home in the tightly held Riverview Terrace.
Mr Harris said 14 groups attended the first open home for the four-bedroom house at number 13.
He said the property offered river views that needed to be experienced to be believed.
"The way it's positioned on the site - it almost feels like it's on a cantilever over the water - it feels that close," Mr Harris told The Standard.
The 1221-square-metre property has sweeping views from most rooms.
It also boasts plenty of outdoor entertaining space.
The property is expected to fetch between $1.2 and $1.4 million.
Expressions of interest for the property close on July 20.
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Monique Patterson
I'm a journalist with more than 15 years experience. I currently work at The Standard in Warrnambool. If you have anything to add to this story please contact me at mpatterson@warrnamboolstandard.com.au
I'm a journalist with more than 15 years experience. I currently work at The Standard in Warrnambool. If you have anything to add to this story please contact me at mpatterson@warrnamboolstandard.com.au
