Wangaratta Chronicle 050224

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TODAY

31o Heavy showers

31o 30o 31o TUE

WED

THURS

www.wangarattachronicle.com.au

Police identify alleged smash, grab jewellery thieves

Monday, February 5, 2024

Phone (03) 5723 0100

Market lifts at Wangaratta blue ribbon heifer sale Page 3

Magpies are on the march

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Sport

CHEV FAMILY COOPER (left), Paige, Cindy and Wayne Branson were at Sunday’s Wangaratta Rod & Custom Club meet and greet that had about 60 people enjoy a barbecue and a yarn at the showgrounds, in preparation for the upcoming bi-annual Rod Run on the Labor Day weekend from March 8-11. The Branson family brought along three vehicles (pictured), including the red 1951 Chev, yellow 1940 Chev, and grey 1954 Chev. PHOTO: Steve Kelly

Housing market activity humming along despite tougher times Established Es ablished proper properties ies in Wangara Wangaratta a dis district ric con continue inue to o change hands during January SECOND time home buyers and farmers have been dominating the Wangaratta housing market with numerous properties changing hands during the first month of the year, according to Nutrien Harcourts Real Estate director/principal Joe McKenzie. Nutrien Harcourts has been selling multiple

BY STEVE KELLY skelly@ nemedia.com.au

residential, rural and commercial properties, with numerous buyers undeterred by interest rates reaching a 12-year high prompted by a cash rate of 4.35 per cent. While borrowing is more difficult than what it was 18

months ago, Mr McKenzie said they’re back to more traditional ratios in terms of savings and buyer capacity to service loans. “January has been really good and anything that’s priced attractive to the market place is strong,” he said. While there was a little uncertainty from Nutrien Harcourts heading into the New Year, in terms of the level

of activity to be expected, the local real estate market has been reasonably buoyant. With high interest rates, first home buyers are virtually non-existent at this point in time and based on recent sales Mr McKenzie said the properties have been selling to second home buyers, with commercial selling to people who are “pretty ready to go” financially.

“We had a rural property sell to neighbours, one in Oleander Terrace went to a second home buyer, Steane Street went to people downsizing, and anything central and close to the hospital and CBD is popular,” he said. “Some of the residential properties that have sold through Nutrien Harcourts in January were priced at $660k,

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$639k, $635k, $475k, and $515k.” Real Estate Institute of Victoria data for the December quarter shows the median sale price for Wangaratta was at $510k, down 1.4pc, and this compares to the regional Vic figures of $616k and +1.7pc, but based on last year’s trend, this is set to climb. ■ Continued page 2

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