will Balarat house prices Tumble??

[ger]

Now with stage 4 water restrictions
and water to run out in months
what will the property affect be
in Balarat in short or long term?

Thanks

 

[yadreamin]

ger
I dont think the residents of Ballarat or any where else are going to sell up in mass and move on and cause a glut in the market.Move onto where? the whole country is in a water crisis , oh except the wonderful Great North.
cheers yadreamin

 

[scouse]

As a resident I see no signs of prices tumbling, soon melbourne will be up to stage 4 water restrictions.
Median prices continue to increase. Numerous estates being developed with consistent land sales.

 

[landlubber]

If they DO tumble ..... be a buyer ! The water problems will be solved.

LL

 

[Peter Parker]

And in the meantime, any value differences between houses that have a nice lawn and those that don't may decrease.

If this happens, this may slightly reduce the price difference between 'nice' and 'mediocre' presentation and reduce the scope for value-adding that pays.