PROPERTY values in Bathurst continue to grow with the average house price in the city now $347,000.
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It was literally one day, we only had one inspection. We hoped it would be a quick process, but never imagined it would be that fast, it was absolutely fantastic.
- Ashley Boylan
Principal of Bathurst Real Estate, Mick Whittaker said the local market was strong, with key statistics such as median price, annual growth and days on market all favourable for sellers.
“In the last few months we have seen really really consistent sales, and the days on market figure for Bathurst is coming down.
“I read this morning the average days on market for Bathurst was 72, which is fantastic and I think our average days on market would actually be a lot less than that.
“Every now and then you might see a property that sticks in the market place, and it’s hard to put your finger on why it hasn’t sold, but at the moment there is a bit of a run on properties, we are seeing pretty strong sales especially in the $450,000 to $600,000 market which is obviously good.
“The medium price of houses in Bathurst has risen 10 per cent in the past 12 months, which is exceptional not only for Bathurst but regional areas.”
Mr Whittaker said there’s a steady flow of people coming from out of town coming to Bathurst because they like it’s size or facilities.
“Right at the moment we’d would love more houses to sell; there’s not a lot of land available and people making the choice to buy established homes.”
Mr Whittaker said he would describe the market as “balanced”.
“The seller wants as much as they can get and the buyer wants it as cheaply as possible, but I’ve seen a lot of instances lately where more then one person wants a home so from that point, I guess it’s leaning towards a seller’s market.”
Mr Whittaker said low interest rates were also helping to keep the market buoyant.
For Bathurst family, Ashley and Larissa Boylan, this month was a great month to sell, with their property selling after just one day.
The couple said they couldn’t believe how quickly their property sold.
“It was literally one day, we only had one inspection,” they said.