Professionals Bathurst Market Update 24/12/2020
The year that nobody asked for is almost at its end. With all the viruses, lockdowns and economic uncertainty that 2020 brought our way, one thing is clear to us, how lucky we are to live not only in Regional NSW but in such a strong town like Bathurst. In the last few months at Professionals we’ve sold over $10,000,000 worth of property at a very healthy average sale price of $529,000. A phenomenal result that we never could’ve predicted in March/April.
Normally this time of year we’d typically be slowing down on the number of buyers we would be meeting and inspections we’d be doing, but not in 2020. I’ve got back to back appointments today with prospective buyers who are yet to find a home and our last round of open homes we conducted on the weekend saw some of the best numbers we’ve had in months.
Now let’s combine the buyers who haven’t been able to find anything in 2020, and, the new influx of buyers we typically see in the first few months of a new year and what do you get? In our opinion, probably one of the best times to sell your property that we have seen in a very very very long time.
Mark my words February is the new spring and I’m predicting some huge results for sellers in Bathurst in the first quarter of 2021.
Our rental market is still going strong although we have seen a small uptick in vacancy rates across the town. To give you some real time figures, about 6 weeks ago we had 2 properties available for rent at Professionals, today we sit at about 10 but that’s pretty typical of this time of year with a number of tenants vacating as a result in the change of the circumstances and looking to start the new year afresh. Similar to the sales market there is still great demand from people looking for homes and we expect the vacancy rate will drop again toward the end of the first quarter.
From all of us here at Professionals Bathurst we’d like to wish you a merry Christmas and thank you for your support throughout what’s been a challenging year. We can’t wait to help many more of you smash some property goals in 2021!