Consistent high demand relative to supply is a key feature in Narracan 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 Narracan due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Narracan provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Narracan to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. With very low industrial sector presence in Narracan 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.
|277 NARRACAN CONNECTION RD, NARRACAN, VIC, 3824||4||2||0||$1,250,000|
Narracan Primary School(While the above schools are located with the suburb of Narracan 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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