BATHURST has experienced its most productive month ever for property sales, despite the economic impacts of a global pandemic.
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Agent Chapman Real Estate's David Chapman, who keeps a close eye on numbers, said that December data from realestate.com.au shows there were 112 residential property sales during the month.
"I sensed about halfway through the month that it was going to be a triple-figure month," Mr Chapman said.
"We've only had a couple of 100-plus sales in a month in years gone by."
Compared to December 2019, where there were 59 residential sales, it is a massive improvement.
"We're talking a 100 per cent increase on December [2019] and when I also look at November [2020], that was 102 sales," Mr Chapman said.
"The last time Bathurst achieved 100-plus sales in a month, you've got to go back to 2017 and 2016, which was when we were last at the height of the property spike of the real estate cycle.
"To finish the year with over 100 sales for November and for December as well, it just shows that historically that's the busiest Bathurst has been ever as far as total number of residential sales goes."
Looking back at the data from when the pandemic hit Australia, the number of sales in Bathurst in April was low at 35, when it most years it has been around twice that amount.
The number of sales in the following months rose steadily, finally reaching the highs of 102 and 112.
Local real estate agents said in late 2020 that the demand for property was high, but new listings were hard to come by.
Mr Chapman said the urgency from buyers was helping to drive sales, as were the low interest rates and an increased level of interest from metropolitan buyers.
"When they see what the dollars can buy them, their dollars go a long way after they've sold up in Sydney and look to purchase in regional areas," he said.
One Agency Bestwick Real Estate's Mitchell Bestwick has also seen an increase in interest from metropolitan areas, and agreed that greater access to finance was bolstering sales.
Like other agents across Bathurst, it's been a busy few weeks for One Agency.
"The last six properties we had listed didn't even make the internet and they all sold for premium price and some of them for full asking, so we're flat out," Mr Bestwick said.
Both he and Mr Chapman expect the high demand for property to carry over well into 2021.
"My crystal ball suggests these prices, this strong vendor market, I think is going to remain in place until such a time that the market is flooded with options for properties," Mr Chapman said.
"In my opinion, that's what will swing the pendulum back in favour of purchasers."
