If you purchased a home for the median sales price in 2003, four walls and a roof would have set you back $105,000. If you sold that same house three years later in 2006, you would have doubled your initial investment. Hindsight’s a killer. Will this year compare to the previous twelve months? Over the...Read More→

If you purchased a home for the median sales price in 2003, four walls and a roof would have set you back $105,000. If you sold that same house three years later in 2006, you would have doubled your initial investment. Hindsight’s a killer.

Will this year compare to the previous twelve months?

Over the past four years the median sales price has increased by ten thousand dollars each year. With the best selling months now upon us, Gunnedah is well on track to exceed last year’s median sales price of $299,000.

Homes ranging from $200k-$300k have continued to dominate in the past year, making up 32.2% of the overall number of sales. This bracket remains competitive, appealing to investors, first home buyer and retirees.

Properties between $300k -$400k contributed to 25% of sales volume, whilst competing against the new home market and the government incentives which are still available for the first home builder ($15,000).

The most remarkable shift we are currently witnessing is the increase in sales between $600k-$700K. As the choice for three acre lots are becoming limited, purchasers are seeing the value in pre-established homes, resulting in buyers being willing to part with the extra money rather than build themselves.

As the year comes to a close we will see the selling season really hit its straps. Buyers will continue the age old tradition of elbowing each other out of the way, whilst they aim to be in their new purchase prior to Christmas.

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