Thinking about buying in Lake Rowan? Now could not be a better time, with just 79 residential dwellings it's a highly sought after location.
The average property price for this area is $262,000 with prices in this suburb ranging from $130,000 to $394,000.Distance to the coast is 190 Km.
Consistent high demand relative to supply is a key feature in Lake Rowan driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Lake Rowan due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The slightly lower than average earnings from occupations in Lake Rowan changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. With very low industrial sector presence in Lake Rowan the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
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|Average Properties Within 50M||1.00|
|LAKE VIEW, 42 HOLMES RD, LAKE ROWAN, VIC, 3727||5||2||8||$420,000 - $460,000|
None within suburb boundary(While the above schools are located with the suburb of Lake Rowan there may also be nearby schools whose catchments cover this suburb)
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source: Australian Government Bureau of Meteorology
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