Mildura Weekly : Friday September 16 Vol 10 No 45
Sunraysia homes selling like hot cakes! STRAP yourself in Sunraysia, these are exciting times in the real estate sector! According to the Real Estate Institute of Victoria, houses sell as quickly, or quicker, in Sunraysia as anywhere in the State, including metropolitan Melbourne! The REIV also pointed out that while auctions are popular in city areas, the majority of homes in Victoria are sold by private sale. A key market indicator for private sales, claims the REIV, is the median number of days a home takes to sell – known as days on market – with any declines signalling growing buyer interest in a town or region. In July, multiple regional towns experienced significant improvements in median days on market compared to July last year. The coastal town of Anglesea recorded one of the largest improvements with homes in the town selling 55 days faster this year with a median of 56 days on market. Significant declines in days on market were also experienced in the commuter town of Longwarry and Maldon near Castlemaine, both down 46 days over July 2015 to medians of 39 and 61 days respectively. Homes also sold faster this year in Swan Hill, down 30 days to a median of 38 days on market; the Bendigo suburb of Long Gully, down 29 days to a median of 51 days; Shepparton, down 24 days to a median of 50 days; and Echuca, down 16 days to 48 days on market. But a number of regional towns have some of the State’s fastest selling private sale markets – on par with metropolitan Melbourne suburbs – and Sunraysia is a standout. The latest REIV figures show that homes in Irymple are amongst the State’s best selling, with a median of just 23 days on market in July. No surprise to Burns & Co principal Ashley Burns. “The new trend in our market place is to “live out of town,” he said. “Hence the pressure on any listings within the popular areas of Irymple and Mildura South, particularly where town water is available. “I would also put Nichols Point into this category, although but the average price is higher in this location so days on market might be stretched a little. “Land size is also a factor with many buyers, and with new subdivisions offering reduced lot sizes, Irymple, particularly, offers the growing family larger allotments and this is reflected again in increased demand in this area.” And, according to the REIV, the Irymple experience was followed by Mildura and Merbein, with median days on market of 35 and 36 days respectively. “Our Mildura market place offers people fantastic buying opportunities with the average price hovering around $250,000,” Mr Burns said. “Given the extremely low interest rates, exceptional rental returns along with our enviable weather and lifestyle it’s easy to see why people want to live in the region. “We are seeing numbers coming into our market place from areas such as Broken Hill, Bendigo, Ballarat, Melbourne and South Australia as they capitalise on a very affordable market. “People are moving into the area, and putting equity in their pocket from their previous location as they secure a very affordable home within Mildura.” Meanwhile, Mr Burns said that Merbein provides buyers with two advantages. “First, like Irymple, Mildura South and Nichols Point it provides ‘out of town’ living opportunities and secondly, if you are wanting to live within the township, it provides buyers with properties with about a 10 percent price advantage over an equivalent Mildura property. So it’s the affordability which is the attraction, as well as being just a few minutes out of Mildura.” According to Mr Burns, “it’s pretty exciting times in the real estate market across Sunraysia.” “With an assured season, and higher commodity prices across the agriculture and viticultural industries, I’m sure prices will continue to rise and days on market will continue to shorten. “Enjoy the ride!” SUNRAYSIA PEST CONTROL COME AND SEE US TODAY FOR PRE-PURCHASE INSPECTIONS Specialists in termite management • Pre-construction systems • Termite monitoring & baiting Authorised installers of the Exterra Termite Baiting Systems with $100,000.00 Manufacturers warranty. MILDURA’S NUMBER 1 PEST CONTROL COMPANY FOR OVER 30 YEARS RESIDENTIAL & COMMERCIAL PEST MANAGEMENT OF ALL PESTS IN ALL AREAS NEW LOCATION 3/55 EIGHTH STREET MILDURA PHONE 5022 1822 For peace of mind, make the wise choice. 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Aussie is a partly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. © 2016 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786. 138 Tenth Street | 5022 1859 | aussie.com.au/mildura FINANCE SORTED? Is it really the best deal for you? Darren Hateley Aussie Broker Jason Hateley Aussie Broker For all your home loan needs Call Aussie Mildura Our Services are FREE.
Friday September 9 Vol 10 No 44
Friday September 23 Vol 10 No 46