Bathurst Blog

2021, the year that was.

From the highest of highs to lockdowns, travel restrictions, and border closures, 2021 was a rollercoaster ride to say the least. 

Nevertheless, Bathurst’s economy and, in particular, the property market managed to hold steady and defy COVID-19’s continual adverse impacts on much of the Australian economy.

For us here at Raine & Horne Bathurst, 2021 was one of our busiest years on record, with record sales both in terms of volume and prices achieved. Across the board we saw  an average increase of 20-25% in property values, and, our team’s hard work was reflected through setting a number of Bathurst suburb records for residential sales, including:

• White Rock: $2,000,000
• Bathurst CBD: $1,500,000
• Windradyne: $800,000.

The rental market was also tested with record low vacancy rates, (consistently below 1%), throughout the year resulting in an increase in rents across the board and severe shortage in properties for lease

Bathurst also saw a slight increase in commercial property activity in the latter half of 2021, reflecting the area’s economic strength and resilience. New retail activity however remained sluggish, perhaps reflecting the wider statewide economy. 

The rise in property values and Bathurst’s economic resilience can be largely attributed to many city-siders escaping the extended lockdowns and large Covid numbers for a smaller centre that offers comfortable family living and a plethora of job opportunities for people of all ages.

With further population growth expected for regional NSW and the hope of a return to relative normality as the year progresses, 2022 is shaping up to be another busy year for the team here at Raine & Horne Bathurst, as well as the Bathurst economy as a whole.