AFTER a generally lacklastre 2019, a surprising result in December has set the Bathurst property market up for a return to form in 2020.
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It's the first time since 2014 that Bathurst's yearly house sales have fallen below 700, however, 2019 ended on a high.
Agents managed to sell an extra 10 properties in December compared to the previous year, bringing the total for the month to 57.
Agent Chapman real estate owner David Chapman said he sees that trend continuing into 2020 and is already experiencing increased inquiry.
"I've personally been saying to friends and family that I'm quite buoyed by the fact that there's still a lot of property interest taking place, even in the lead into Christmas, even between Christmas and New Year ... which sort of bucks the trend a little bit," he said.
"People generally sit back on their hands over that period and then wait until the new working year kicks off in mid to late January, but there's been no let up in interest that I've seen locally in the real estate market.
"I'm quietly confident that that interest is going to continue into 2020."
One of the things he expects to make a difference this year is the introduction of the First Home Loan Deposit Scheme (FHLDS).
READ ALSO: Door opens for first-home loan scheme
The scheme allows first home buyers, who are low to middle income earners, to purchase a home with just a five per cent deposit.
It will assist a maximum of 10,000 eligible home loan borrowers each financial year.
"I know buyers who've been holding off, waiting until January, so they can enter the property market at a more affordable entry level with the five per cent deposit," Mr Chapman said.
The value of properties eligible to be purchased under the scheme in regional NSW will be capped at $450,000.
Mr Chapman said vendors who have have homes listed at or below that figure are likely to benefit from the increase in first home buyers entering the market.
He said it could lead to quicker sales and boost eventual sales prices as a result of increased competition.
The FHLDS and a general increase in buyer confidence could see Bathurst getting closer to some of the impressive numbers the city was achieving in 2017, where there were a total of 888 properties sold.
"We can certainly start heading back towards the busy period of 2017 that saw us achieve 100 sales in a month, which has only happened a couple of times in Bathurst, literally only twice in the last four years," Mr Chapman said.
