SPRING is typically a time when the Bathurst market is flooded with properties, but this year there's not enough new listings to meet the demand from prospective buyers.
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One Agency Bestwick Real Estate's Mitchell Bestwick said there is a lack of availability both in homes for sale and homes for rent.
The inquiry is high from renters, while high volumes of people are attending open homes to inspect the few properties that are for sale.
Mr Bestwick believes the COVID-19 pandemic is behind both problems.
"I think there's a lot of uncertainty within certain groups and people, which is understandable with the pandemic and a lot of the unknowns of what's coming," he said.
"The properties we normally see come in on spring that would fill those gaps aren't coming on, so that's creating the lack of supply and greater demand, which generally puts the pressure on prices and causes them to increase."
While he understands why people are reluctant to sell at the moment, he said the market conditions are favourable for vendors.
"If you're considering selling between now and the next few years, it is certainly worth considering doing it now," he said.
"While there's buyers is the best time to sell for a premium price. The last thing you want is, if you decide to sell and so does everyone else, the market to shift back to being more favourable to the buyers.
"And while interest rates are low, it gives you a pretty good opportunity to potentially transition from where you are to where you want to be on the property chain."
People are encouraged to have their homes appraised.
One Agency Bestwick and a number of other agencies in Bathurst offer market appraisals for free.
"It may be worth getting an appraisal done if you do own a property," Mr Bestwick said.
"Call your agent, or ideally us, to come out and give you an idea of where you sit in the current market, because what you're thinking and where it probably sits could be two different things.
"You may find that you've got a bit of equity in your house that you could use to your advantage."
Earlier in the pandemic, Mr Bestwick advised that, in this climate, property is one of the safest investments people can make and encouraged people to be open to the idea.
