Elders Residential Real Estate principal Lester Wheatley says an increase in sales has led to fewer homes on the market in Deniliquin.ZOE MCMAUGH June 24, 2014 3:35am
Deniliquin has returned to a ‘‘normal’’ real estate market, according to Lester Wheatley (pictured).
The Elders Residential Real Estate principal said an increase in sales had led to fewer homes on the market.
Figures from property valuation company Herron Todd White show the number of sales from January 1 to mid-March this year were already more than 30 per cent of last year’s total sold.
Paired with the tight rental market easing a little, Mr Wheatley said the signs were positive for Deniliquin.
‘‘There has definitely been an improvement in sales activity,’’ he said.
‘‘The rental market is still quite tight but is improving, which is always a healthy sign.
‘‘The number of properties for sale has halved in the last 12 months, which is probably the most significant sign that we are returning to a traditional healthy market.
‘‘In the last 12 to 18 months the market has reversed. We are starting to get more competition and in due course we will start seeing an increase in housing prices.
‘‘One of the most positive things is that this expansion in the volume of sales is not at the expense of rentals.’’
Mr Wheatley says with the number of homes available for sale decreasing, and therefore a lack of choice in what is available, he expects the local resurgence in people building new homes to continue.
He also expects the housing market to expand again should two major local developments eventuate.
The pending re-opening of the Deniliquin abattoir and the proposed development of a $90 million ethanol plant in Deniliquin could potentially create more than 150 jobs.
Herron Todd White figures show 41 homes were sold in the first quarter of this year alone. They had a total value of $7,130,500 and a median price of close to $175,000.
A total of 131 homes were sold in 2013 making more than $23 million with a median price of $165,000. 2012 figures show 115 homes were sold at a median price of $151,500 and 99 in 2011 for a median of $180,000.
~ Zoe McMaugh
Advertising Standards Bureau slaps McDonald's for offering free fries vouchers to children at SPC Ardmona KidsTown.
Yarrawonga Football Netball Club senior footballer Jeremy O’Brien celebrated his 200th senior Ovens and Murray Football Netball League game against the Wodonga Bulldogs on Saturday.
Following a concerted effort by Merrigum Community Group to upgrade signage in the town, it was announced at last Monday’s community meeting that design of a new information sign, to be located near the bus shelter in Waverley Ave, has been completed.
Mac Varell-Mckee knows how lucky he is to be alive and he has Adrian Shultz, Kevin Davis and Steve Marsh to thank.
Rochester resident John Constable has received the latest vision scanner available, thanks to Rochester Lions.
100 days at Tongala Primary.
It's not everyday you get 'most sincere thanks' from the Queen - as a Seymour girl found out.
St Joseph's Jerilderie teacher Steve Jones has released an album with his band, Steve Jones and The Velvet Glove.
The district has shivered during the past couple of weeks with night temperatures falling below zero. For those prepared to brave the winter chill, Lake Eppalock offers stunning scenery and yellow wattle brightens district forests.
Black Dog ride participants meet up in Cobram before they burn rubber to beat the blues.
Deniliquin High School students are preparing to take part in the Great Victorian Bike Ride for the 13th year in a row.
Wheat crops sown at the end of April to mid-May were two to three weeks early, increasing the risk of frost damage, the Finley Discussion Group’s meetings earlier this month heard.
John 'Jack' Roe remembered as a gentleman; battle-scared but a genuine, dignified man of integrity.
Discover unbelievable local deals from local businesses every week in the Goulburn and Murray Valley area with Leapon.com.au!
Search properties for sale or rent across North Central Victoria and Southern NSW. Visit your local website for local homes....
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.