Odds of Bathurst hitting 1000 property sales low after poor second half of the year

NOT ALL BAD: Real estate agent Tom Clyburn from Century 21 Bathurst, which is still seeing strong inquiry despite the market slowing down in the second half of 2017. Photo: CHRIS SEABROOK 122017creal1
NOT ALL BAD: Real estate agent Tom Clyburn from Century 21 Bathurst, which is still seeing strong inquiry despite the market slowing down in the second half of 2017. Photo: CHRIS SEABROOK 122017creal1

IT LOOKED certain for a while there, but now the odds of Bathurst reaching 1000 residential property sales is nearly impossible. 

As of mid December, there had been 858 residential properties sold in Bathurst, well off where the figures had to be for the city to reach 1000 by the end of the year. 

In some good news, however, Century 21 Bathurst principal Troy Kearney said the figures were up on the same time in 2016, when there had been 777 sold. 

“We have had growth of just over 10.5 per cent year on year. It is great to see growth in the region,” he said. 

Mr Kearney said the market had slowed in Bathurst in recent months, seeing 1000 sales become increasingly unlikely. 

“We are going to pull up short this year,” he said.

“It was an extraordinary first six months [from] January to June, then July to December slowed down and is looking very similar to the previous years.” 

The best months in 2017 were March and July, where there were 100 and 95 properties sold respectively. 

Both months saw significantly more sales than in 2016. 

Bathurst lost some ground on the sale figures in August, where there was just 57 properties sold compared to 85 during the same month in 2016. 

Despite the market slowing down, real estate agents are still seeing a lot of inquiry into properties, more than the normal amount for this time of year. 

“For December, the phones are ringing off the hook,” Mr Kearney said. 

“Seasonally, inquiry always slows down at Christmas. This year we have actually seen the opposite: lots of inquiry, plus there are still lots of homes going on the market trying to capitalise on the inquiry while it’s here. 

“This is very clever, beating the new year rush of properties is always good.”

He said it is a great time for people who have been considering selling to put their home on the market. 

“Inquiry is up on all styles of homes, open homes on the weekends are extremely busy, interest rates and the good weather certainly helps with inquiry levels,” he said. 

The homes that are likely to go quickly are ones that are priced under $400,000, as these have been selling extremely fast and for good prices.

Mr Kearney said that the other popular pick for buyers in Bathurst recently has been homes that are priced around $500,000.

These also have been achieving great prices for the vendors.