Thinking about buying in Lochiel? Now could not be a better time, with just 213 residential dwellings it's a highly sought after location.
The average property price for this area is $695,000 with prices in this suburb ranging from $106,000 to $1,626,000.Distance to the coast is 3 Km.
In Lochiel there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Lochiel is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. Low average earnings from people in Lochiel leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Medium density in Lochiel necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Lower than average industry presence in Lochiel we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Lochiel a better buying opportunity than it may have been in the past.
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Pambula Public School(While the above schools are located with the suburb of Lochiel 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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