Head to Goulburn for exceptional investment opportunities

Source: Goulburn Post, 11 January 2012

Last year was the year of accomplishment in Goulburn, and the trickle down effects on the local economy are starting to be felt.

With the dams full, the Highland Source Pipeline complete, and big retail chains like Target, Bunnings and Big W all moving in, real estate investors from across the country are looking this way and snapping up bargains.

New data has shown the local real estate sales market is booming, with the median house price up 20.5 per cent over the last three years to $265,000, and up 8pc in the last 12 months.

Demand from out-of-town investors and local buyers has been generating strong sales in the region, and is slowly driving up the median price, local real estate agents have said.

First National Real Estate one of Goulburn’s biggest residential sellers – stayed open between the Christmas Eve and New Year period to keep up with sales demand from investors and owner/occupiers alike.

First National principal Barry McEntee said there was demand for properties “right across the board,” from one-bedroom units up to three and four bedroom houses and small acreages.

December was the busiest month of the year at First National for sales, the first time this holiday month has topped the list in seven years of trading.

Mr McEntee puts part of the demand down to the fact that stamp duty concession for first home buyers expired on December 31, and the subsequent rush to snap up properties before the expiry date.

“We actually opened between Christmas and New Year, which is not something we’ve done in the past, but we felt the demand was there,” Mr McEntee said.

Mr McEntee felt the amount of Canberra buyers was starting to drop off.

“There’s been less Canberra buyers late last year in my opinion.

The Canberra market has softened a bit of late, so people who were forced to consider Goulburn in the past are now looking within Canberra.” “In 2010, about 25% of buyers were from Canberra, but now it’s more like 10-15%,” he said.

As for what’s driving the strong sales market, it all came down to affordability, Mr McEntee said.

“The big thing about Goulburn is that it’s so affordable. We were still selling houses at the end of last year from $200,000 right up to the $700,000 mark.”

The Goulburn property market has also been singled out by respected real estate analyst and owner of www.hotspotting.com.au Terry Ryder, who included Goulburn in his most recent national top 10 cheapies with prospects’ report. The only other NSW locations to make the top 10 were Dubbo, Broken Hill and the region surrounding Gunnedah.

This all bodes well for another strong year in 2012, Mr McEntee said.

“It’s been a very strong 2011 and there’s no indication that will slow down in 2012.