Covering the Goulburn and Murray valleys

Agents agree Deniliquin's a sound investment

Deniliquin Real Estate agents believe it is a great time to invest in the local area.

CASS SAVELLIS April 17, 2014 3:23am

Buying a home in Deniliquin is a sound investment if the local real estate market’s current trend is anything to go by.

Big River Real Estate principal Ashley Hall has sold more investment properties this financial year than the previous six years in total.

‘‘Sales have definitely picked up,’’ Mr Hall said.

‘‘This shows an increased confidence in sales. Overall the market is still going along nicely.’’

Elders Residential Real Estate principal Lester Wheatley says Deniliquin is enjoying the best market balance in 10 years.

‘‘The demand in the market has improved significantly,’’ Mr Wheatley said.

‘‘The number of residential properties for sale has halved in last 12 months.

‘‘This is good for sellers — it creates better equilibrium in the market meaning more competition and better prices.’’

Mr Wheatley said the increased interest in the Deniliquin sales market should lead to an increase in property value.

‘‘At the moment this has not translated to price increases but we expect it will as demand strengthens in prevailing record low interest rate conditions,’’ he said.

‘‘We are selling more homes than we are listing ... we’ve sold four properties just this week.

‘‘This will lead to more people vying to buy the limited properties available.’’

Deniliquin’s rental market is also strong, with properties still in high demand.

Mr Hall said there has been ‘‘no shift’’ in rental vacancies.

‘‘Rentals are extremely tight and there are very limited vacancies. I expect rentals will remain that way for the foreseeable future.

‘‘But it is good to see new developments in town that are bringing more people here.’’

Mr Wheatley agreed, saying the rental market is ‘‘still very strong’’.

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