Orange housing prices have soared to a new level with a villa breaking the $1 million barrier.
The four-bedroom townhouse, 3/45 Kite Street, has just sold for $1.15 million and is believed to be the first non-house property in the CBD to achieve that price.
According to the NSW Valuer General the previous highest sale price for a residential property other than a house in Orange in the past four years was $850,000.
Selling agent Ash Brown of One Agency Orange said it had been bought by an un-named professional couple seeking to downsize without having to worry about maintaining a large garden.
"This ticks a whole lot of purchasers' boxes," he said. "A lot of people are wanting downtown living and a lot of people are down-sizing."
The property last sold for $269,000 eight years ago but the site has since been developed into three villas.
"It's absolute premium, that block," Mr Brown said.
"I think this [villa] was the best of the three. This one is the premium.
"I don't have any evidence but I haven't heard of any townhouses that have gone for [a million dollars] before."
Mr Brown said the regular price for townhouses in Orange was $600,000-$800,000.
He said the 446 square metre property had two bathrooms and a double garage.
"It had a high-end fitout," he said. Mr Brown said villas and townhouses differed from units by being privately owned and not being part of a strata ownership arrangement.
The highest price for a house sold in the CBD is understood to be $1.86 million for a home in Sale Street.
TOP SELLING UNITS/VILLAS IN ORANGE INCLUDE:
- 3/45 Kite Street $1.15 million 2020
- 1, 2 and 3/11 Coronation Drive $850,000 2019
- 4/38 Sampson Street $699,000 2018
- 1, 2 and 3/99 Kenna Street $685,000 2019
- 2/38 Sampson Street $660,000 2020
- 2/70A Byng Street $600,000 2019.
- Source: NSW Valuer General unit sale prices in Orange since 2016.
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