Residential sales figures up 21 per cent

BATHURST is on a trajectory to hit 1000 residential property sales in a calendar year for the first time. 

Each month of 2017 has seen an increase in sales figures from the same period last year. 

For the six months to June 30, 2017, the Bathurst region has seen 464 properties sold, a 21 per cent increase from the same period last year. 

One hundred of these were sold in March, while 89 of them were sold last month. 

Century 21 Bathurst real estate principal Troy Kearney said the high figure in June was unexpected.

“This is growth of 15.5 per cent on the same month last year,” he said. 

“With the introduction of the new first home owners grant, we thought there may have been a slow down with people waiting to save on their stamp duty from July 1, but the incredible value the Bathurst market continues to show didn’t slow the region down for the month of June.”

The new grant scraps stamp duty fees on all properties under $650,000 for people purchasing their first home. 

It was introduced at the start of the new financial year on July 1 and could have an impact on sales figures in the region over the coming months.

This could be enough to push Bathurst past the 1000 sales mark. 

Mr Kearney said there are a few factors that suggest the likelihood of 1000 sales for a calendar year is still “a very strong possibility”. 

The 21 per cent growth rate is one of these factors, while another is how many appraisals his office is carrying out. 

“There is not a huge amount of new properties coming on the market right now, but from the high volume of appraisals being completed from our office at the moment with people getting ready for those warmer months, I believe its going to be a very busy spring and summer in the region,” he said.

He said if the growth trend continues at the same rate, Bathurst will achieve 1036 residential sales within the region for the calendar year.

Mr Kearney said people considering selling their home are likely to get a good result if they list their property now.

“I would recommend if you are looking to sell your home, you beat the rush and look at putting your home on the market now while there is less competition and an oversupply of buyers from the Sydney region paying premium prices,” he said.