- Gympie house asking price up 22 per cent higher in a year
- Supply remains constrained with record buyer demand
- Diverse selection of affordable property available
This year’s spring selling season is set to be one like no other in the Gympie region in my opinion.
Traditionally kicking off at the start of September, we are experiencing record levels of buyer demand for the smaller than usual volume of properties currently available for sale in our region.
Now, if we think back to the same time last year, we may have been released from lockdown, but there remained some nervousness amongst sellers and buyers for a period of time.
However, all of that changed in the space of a few months, with buyer demand starting to strengthen as we moved closer to the end of a year that we’d all rather forget.
A number of factors have been driving the super-strong market conditions we are experiencing and are set to stay that way for some time to come.
Lifestyle in spades
While interest rates are at historic lows, the affordability of property in our region means that the cost of credit has never been a major factor in our market.
But that’s not to say that low rates aren’t welcomed every day of the week by mortgage holders!
However, it is demand from local buyers that is helping our market achieve such strong sale prices at present.
In fact, we are seeing elevated interest from buyers who normally reside within a few hundred kilometres south of our region.
They are showing keen interest in the Gympie and Cooloola Coast region because of the impressive lifestyle attributes we have to offer, but also because of the more affordable buy-in prices of property here.
Many of these people are actively seeking locations where they can get more bang for their property buck, while also staying within a reasonable commute of the Sunshine Coast and even Brisbane.
Other buyers are former tenants who have run the numbers to determine that they are financially better off purchasing a property here, than continuing to rent one in locations where rent prices have soared in a short period of time.
Strong sale prices
Local vendors are regularly securing strong sale prices far above their price expectations of late.
In fact, according to SQM Research, the asking price of houses in Gympie is a staggering 22 per cent higher than it was just a year ago!
Gympie – 4570
This means that local sellers are able to capitalize on their properties to upgrade here or elsewhere, while investors are making the most of the strong buyer demand if they are in the selling down phase of their investment journeys.
Our region has such a diverse array of properties that it really does tick all the boxes for buyers looking to purchase almost any type of dwelling at all.
Just think of our many Queenslander homes, new executive-type houses, lifestyle and acreage properties, as well as income-producing rural farms for both agriculture and horticulture purposes that are attractive to both homeowners and investors?
These are some of the reasons why homeowners who are considering a move would be wise to make the most of the current extraordinary market conditions – that are likely to see them secure an excellent sale price and enable them to be settled into their new home before the year’s end.