The Singleton housing market has seen a strong acceleration in price growth and buyer demand over the last 3 months. It has been like a switch was flicked in late August, with a noticeable pick-up that has continued through spring and into summer.
Every price point saw increased buyer activity as plenty of local buyers have been competing with investors from Newcastle, as well as a noticeable rise in committed investors coming out of Sydney’s west and the Shire. We sold 52 properties throughout Spring, with an Average House Sale Price of $761,768. The 2330 median sale price saw a $28,570 (4.2%) increase throughout this period, confirming what we have been seeing.
We do not see anything changing in the short-term, with industry experts of a similar view. Rentals continue to be in short supply, buyer confidence has improved as interest rates have steadied and more money is on offer for the borrower, the Federal Governmant’s 5% Deposit Scheme seems to be having an impact on those markets below the $800,000 threshold and Singleton continues to offer an appealing, value-packed price point.
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