Thinking about buying in Salem? Now could not be a better time, with just 23 residential dwellings it's a highly sought after location.
The average property price for this area is $863,000 with prices in this suburb ranging from $863,000 to $863,000.Distance to the coast is 45 Km.
Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. 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 Salem 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 Salem provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Salem requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Lower than average industry presence in Salem 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 Salem a better buying opportunity than it may have been in the past.
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None within suburb boundary(While the above schools are located with the suburb of Salem 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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