Market Update February 2017
Hi there, Grant here from Raine & Horne Bathurst with my Monthly Market Update.
Well February was hot and so was the market. Raine & Horne Bathurst exchanged on 19 properties in February. We have 12 properties going to auction in March, two of which have sold and exchanged in the first week of their campaigns.
Inspection numbers at our open homes are at record breaking high. One of our properties in Rankin Street had in excess of 80 groups through Opens in its first week of marketing.
Older homes in the CBD are proving to be a huge draw card in the current market place, with buyer demand at an all time high. We are still seeing a lack of available land, which continues to push new home prices up, and create urgency amongst buyers.
Median house prices have raised from June 2016 at 290K - now up to 373K. That’s a huge increase in 10 months with the regional house price still sitting at 360K making Bathurst above average for house sale prices in our region. Units have also moved from 281K up to 292K in the same period of time. We’ve also seen record-breaking sales in the Llanarth area, with 3 sales in excess of $600K in the last month alone.
This really is the best time to sell and maximize your return. Contact us for an appraisal – get into the market and let us look after you.
That’s it from me, as always if you have any questions or feedback, contact the office and have a chat. See you next month.