Most of the median house prices in Bathurst have doubled in the last decade and, according to one real estate agent, it's something to be happy about.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Data from realestate.com shows that most suburbs in Bathurst have seen an increase of between 50 and 65 per cent, but for some its even higher.
The most dramatic increase was in White Rock, where the prices have risen by 138 per cent since 2009 to a median of $975,000.
Bathurst Real Estate principal Michael Whittaker said this figure all comes down to supply and demand.
"In that time, there's been very little small acreage land supply, so what you've seen in the White Rock area is the existing homes turning over," he said.
"Prior to that there was a good amount of land supply, so people could go and buy an acre and build a house, whereas now you can't buy an acre block and build a nice big home.
"When the land supply drops off, so to speak, if people want to live on an acre then they have to buy what becomes available. [Properties] are going to increase in value because supply is going to be generally limited and demand is going to be reasonably high."
See how your suburb has changed...
The area to see the next biggest increase in price is Eglinton, where the median price is now $479,500, up 66 per cent.
"New housing in Eglinton has certainly helped the existing homes in that area," Mr Whittaker said.
South Bathurst, Raglan, Windradyne, Kelso, West Bathurst and Bathurst have all seen a more than 50 per cent increase in their median price between 2009 and 2019.
The areas that have seen the least amount of growth are Abercrombie (40 per cent) and Llanarth (46 per cent), but their median prices are among the highest at $478,200 and $545,000 respectively.
Mr Whittaker said that the areas to watch are Raglan and West Bathurst.
"I reckon the sleeping giant there is Raglan. I really think that Raglan could come into its own," he said.
This is due to Raglan having bigger blocks of land, a good school and being closer to Sydney.
While Mr Whittaker said a property's individual sale history is a much better indicator than a suburb's median prices, the new data is still positive news for Bathurst.
"That's pretty fair growth. People should be quite genuinely happy," he said.
"If you bought a house for the median price of $289,000 in Eglinton in 2009, then to jump up to $479,000 now, that's $190,000, and if it's your own home it's tax-free.
"That's something that's quite a good sign."