January 2017 Market Update

Hello to You All,

Happy New Year to you all. I hope you have all had a great Xmas with your families and have managed to get some time off with your families.

We commenced back last week and what a week it has been. The residential market seems to have jumped away since returning with our residential sales manager Edwina Brown taking offers on 11 homes in the last week. Enquiry for rural and rural residential properties has also been strong since returning. Despite the lack of available residential land for sale at present, demand for the remaining few lots left in Yass has been very subdued with many buyers happy to purchase existing homes rather than build. The complete opposite to rural and rural residential land.

Rural lifestyle properties (50acres – 200 acres) have also been in short supply with strong demand. With the change in the Non-Urban LEP we will start to see an increase in supply of 20H – 40 Ha blocks come onto the market shortly and it will be interesting to see if supply starts to outstrip demand although in the more sought after locations I don’t think this will occur.

Demand for rental properties has also strengthen over the past 6 weeks with a shortage of larger family homes starting to occur.

For those looking for property you will start to see a run of fresh listings coming onto the market from both YRE and MRE as we have approx. 12 properties carried over from last year to hit the market.

All in all a fantastic and very positive start to 2017 for real estate.

Kind regards,

Michael Gray

Principal