6 Mcfarlane Street, Meningie SA 5264

New build | 4-bed family home | 10,000 sq ft lot | Waterfront proximity | Market in decline. This house presents a rare modern offering in a regional market, combining a 2022 construction with a substantial, usable land parcel. The four-bedroom layout with dual living areas and high-spec inclusions like ducted air conditioning and solar PV is competitively strong for the area, serving a buyer seeking a permanent family residence with low maintenance and expansion potential. Its position on a quality street near the waterfront is its principal locational advantage. The primary decision factor is the severe 20.4% annual value decline in Meningie, indicating a high-risk entry into a softening market. The 111-day average time on market confirms weak demand. The bushfire overlay imposes ongoing compliance costs. This property is a long-term hold; its modern features may preserve relative value, but near-term equity growth is unlikely. It is unsuitable for short-term investment. Sales History: – August 2019: Sold for $40,000 – July 2006: Sold for $69,000 These prior sales reflect only the raw land value before the 2022 construction. They establish a baseline, confirming the current asking price is entirely attributed to the new building, which must be evaluated against the declining local market for comparable houses.