Water the key ingredient in housing price pie

IT SEEMS there is one simple ingredient if you want to achieve a premium price when selling your home — just add water.

A survey of real estate advertisements shows aquatic views are clear indicators of high prices among south-west properties. Warrnambool, Port Fairy and Portland’s most expensive homes all lie on the water’s edge. 

Warrnambool’s Illawong, at 9 Melaleuca Court, and a house at 64 Ocean Drive, Port Fairy, share the title as the district’s highest priced private homes, with a price tag of $2.1 million apiece.

The three-bedroom Illawong sits on a large block with an exclusive title to the high watermark on the Hopkins River.

Jess Densley, director of Ray White Warrnambool, said the property was renovated throughout and had direct access to a private beach.

“It’s in a great spot with river and ocean views,” he said. 

“New windows were installed which opens up the views.

“It has a beach shack type of feel. It is a very nice property.”

Mr Densley said the Warrnambool real estate market had picked up in the last four months. “There’s a lot of confidence continuing into this year,” he said.

Situated on exclusive Ocean Drive in Port Fairy, number 64 also boasts spectacular water views with three distinct pods spread over four levels. Stockdale and Leggo Port Fairy real estate agent Nicole Dwyer said the four-bedroom home was designed by Dean Picken and built by Michael Hearn.

“It is quite a unique home,” she said.

“Nothing to date of this calibre has been seen in Port Fairy.”

Mrs Dwyer said the real estate market in Port Fairy relied on the strength of industries, including dairy farmers, and Melbourne property buyers.

“When industries are going well we see the benefits in Port Fairy,” she said.

In Portland a cool $1.95 million will buy 5 Seaview Terrace, a double-storey architecturally-designed home in a cliff-top position with expansive Portland Bay views.

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