Tamworth Drought and Pricing Report - September 2019
PRDnationwide Tamworth were approached by a number of landlords and purchasers interested to know how the drought and water restrictions were likely to impact their property investments in Tamworth. To ensure we answered our clients investment queries based on real data and evidence, the PRDnationwide Research team conducted a study into the impact of water restriction levels in Tamworth on property pricing. The research shows that during the period covered by the report, Tamworth has had a resilient property market and increased water restriction levels have not impacted Tamworth’s median house price growth.
Whilst overall buyers should be aware of the various types of risks associated with purchasing property, including local climate, our research provides some degree of assurance to those seeking to enter into or to maintain their investment in the Tamworth property market.
If local residents and investors are looking to assist the City with future water assets and infrastructure we recommend contacting our local State and Federal Members to encourage allocation of funding for the upgrading of Dungowan Dam.