Peter Druitt & Co

Mudgee Marketplace Report with Trent Robertson The Mudgee market has received some excellent National media coverage in the last month with reports showing excellent price growth in the region. Profiled in the Australian Property Investor magazine over a four page spread describing expected population growth from mining expansion and lifestyle buyers the article is invaluable to the region and the market. Described as an investor “hotspot� we have seen great buyer enquiry in the market with some strong sales results occurring. The Sunday Telegraph’s Autumn property report ranked Mudgee area Glen Ayr as having the greatest growth in median house prices of any regional centre of 18.8% over a twelve month period. All this impartial information will now hopefully inform the market of the opportunities that this market is currently presenting rather than just hearing rhetoric from Mudgee real estate agents.

The rental market continues to out perform as demand outstrips supply and any new properties being leased are keenly sought by the market. This situation should be eased somewhat by the emergence of investors into the market looking to take advantage of the rental market imbalance. With prices trending higher there will be an inclination from sellers to overprice their properties. This will mean properties will remain on the market longer and therefore buyers will expect to pay less for them. The second issue that arises due to overpricing is even if a sale is achieved the valuation can come in well under sale price and the bank will not lend the balance.

It constantly amuses me how real estate agents apologise for the market, we apologise for the lack of rental properties, the slow market or to buyers who miss out in a fast market yet as much we would like to believe it real estate agents do not control the market we facilitate it.

These are exciting times in the local real estate market offering a wonderful opportunity to enjoy a profitable investment.