ARARAT\u2019s leading real estate agency believes the buoyant property market will continue to flourish in 2022, with demand strong for local property.<\/p>\n
2021 saw unprecedented prices being paid for homes across the Ararat municipality, with the median price for a home in Ararat passing the $300,000 mark.<\/p>\n
Ray White Ararat Director Adam Walker said since the pandemic began, the demand for local real estate has been incredible.<\/p>\n
\u201cI was looking at the data last night and in March-April last year the median house price was about $220,000 and now it\u2019s around $310,000, a 30 plus per cent increase. I\u2019ve not seen anything like it in my 17 years,\u201d he said.<\/p>\n
Mr Walker said all agents were taken by surprise by the interest and demand for local property.<\/p>\n
He said there has never been a better time to sell.<\/p>\n
\u201cWe\u2019re finding people are coming to market probably earlier than they would have, especially investors and owner occupiers with a retirement plan. They think the market is so good that now is the time to sell just in case things go backwards,\u201d Mr Walker said.<\/p>\n
\u201cWith all the new land subdivisions coming, the market will continually get better and better over the next few years,\u201d he said.<\/p>\n
Mr Walker said Ararat\u2019s lack of housing has been a factor in the demand for local property.<\/p>\n
\u201cThe phones are ringing all the time, we get constant emails, you\u2019ll sell a property and probably get another ten emails straight away on a property you could probably have sold ten times over.\u201d<\/p>\n
Even land sales are going gangbusters, with Ray White Ararat selling half the blocks in the new Omaroo subdivision in Brewster Road.<\/p>\n
\u201cOnce they start doing the infrastructure (there) I\u2019m confident the remainder of the blocks will sell pretty quickly. It\u2019s going really well and it\u2019s an exciting development for the town,\u201d he said.<\/p>\n
\u201cMost of the people buying in the estate are owner-occupiers, there are a couple of investors and some who want to want a bit of a tree change,\u201d he said.<\/p>\n
Mr Walker said while the market is brilliant for people selling property, it\u2019s a different story for buyers, especially first home buyers.<\/p>\n
\u201cIt\u2019s really tough to get in, the buyer pool is huge and there is plenty of competition from multiple people for the one house. It is tough, interest rates are low and it\u2019s competitive to buy.\u201d<\/p>\n
Mr Walker said the Ararat market desperately needs more property and now it is a great time to sell.<\/p>\n
But he urges people to have a plan before going to market.<\/p>\n
\u201cYou\u2019ve just got to know where you are going and have a plan, have you got something to rent, have you got something to buy. You\u2019ll definitely be able to sell your home but make sure you know where you\u2019re going,\u201d Mr Walker said.<\/p>\n
Ararat\u2019s lack of housing stock is evident in online listings.<\/p>\n
The Ararat Advocate did a search yesterday finding just 25 homes for sale in Ararat and 15 homes available for lease.<\/p>\n","protected":false},"excerpt":{"rendered":"
ARARAT\u2019s leading real estate agency believes the buoyant property market will continue to flourish in 2022, with demand strong for local property. 2021 saw unprecedented prices being paid for homes across the Ararat municipality, with the median price for a home in Ararat passing the $300,000 mark. Ray White Ararat Director Adam Walker said since […]<\/p>\n","protected":false},"author":2,"featured_media":579,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"coauthors":[31],"class_list":["post-592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/theadvocate.net.au\/wp-content\/uploads\/2022\/01\/IMG_4489-2.jpg?fit=1920%2C1280&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pdqUu4-9y","_links":{"self":[{"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/posts\/592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/comments?post=592"}],"version-history":[{"count":0,"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/posts\/592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/media\/579"}],"wp:attachment":[{"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/media?parent=592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/categories?post=592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/tags?post=592"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/theadvocate.net.au\/wp-json\/wp\/v2\/coauthors?post=592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}