Goulburn’s property market has slowed but realistically priced homes are still selling and there are still plenty of buyers.
That is the advise of a couple of Goulburn’s established real estate agents.
First National Goulburn principal Barry McEntee aid that there are a couple of reasons for the slow down.
“Firstly the property boom has peaked and prices have come back to a more realistic level,” he said. “Since 2012 prices have doubled. secondly the banking royal commission has brought about tighter lending so buyers need to get pre-approval and work with their banks before getting too far down the property search track.
“People need to have all their paperwork ready and know their borrowing limits. “There are plenty of properties for sale and the most sought after ones are the modern, three to four bedroom ones with en-suit, a double garage and realistically priced around the $550-$650,000 mark. These homes represent good value for money particularly considering the price of a block of land.
“The bottom end of the market is not moving as fast and is not attracting the same volume of buyer interest.
“Goulburn is quite an attractive proposition for people looking for affordable housing, as well as a relatively quiet, safe place with plenty of good retail, sporting and other community facilities.
“It is a growing city and is in reasonable commute distance to Canberra the Southern Highlands and outer western Sydney.”
Mr McEntee said that Goulburn was quite an attractive proposition for investors, offering more affordable properties than the Sydney and Canberra markets. Rental vacancy rates are low here and competition for residential leasing is high. People looking to rent need to be prepared with their paperwork and identification and those who are new to renting need to ensure they have the references and other information and documentation asked for by property managers.
Justin Gay who has just moved his Ray White real estate agency from Clifford Street into larger newly outfitted premises in Auburn Street agrees with Mr McEntee that the market has slowed but Goulburn is still ticking along quite well.
He said the tightening up by the banks has affected people in all walks of life from first home buyers to pay as you go earners and property investors.
“Block sales have probably been affected the most, with people seeking to upgrade to a new home being pushed to sell their existing home first and then renting while the new one is built, Mr Gay said. “Otherwise the need to equity in their land before they can get the finance to build.
“We are still seeking plenty of interest in homes in the $600 – $900,000 bracket. in the last six weeks we have had 13 auctions and the properties all sold.”
Mr Gay said buyers need to get a loan pre-approval and know what their outlay is likely to be and they don’t exceed their finance limit.
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