Tatura

Property Report

June 2023

of Ray White Tatura

The real estate market is in good health!

Ray White Tatura recorded its strongest 12 months providing added confidence to sellers that the real estate market is active and experiencing growth, despite global economic constraints, high cost of living pressures and ongoing interest rate increases. The housing market had a lot going on as both Federal and State Governments handed down their annual budgets, which had both positive and negative outcomes for the real estate sector. Whilst the Federal Government aimed to address the national housing shortage by incentivising build to rent investors, the State Government increased land tax on investors which will only look to apply more pressure on ‘mum and dad’ investors and the rental sector. That said, the main contributors to our strong performance was two-fold:

• Decrease in listing volume [Supply]

• Increase in buyer activity [Demand]

As we look ahead, even with the threat of more interest rates to come, a slowing of new listings to market through winter and our population continuing to grow, the real estate market should remain healthy for at least the next few months, or until the volume of property for sale returns.

Properties Sold for the Year