PROPERTY BOOM: Is it a good time to buy in the Clarence Valley?
THE Clarence Valley is surging ahead as new bridges, aged care facilities, a correctional centre and the Pacific Highway upgrade lure an influx of new professionals and families to the region.
The flow-on effect of this infrastructure boom has sent the Valley property market skywards.
But what will happen after the completion of major capital works? It is difficult to predict, according to Clarence Property Agents principal Fiona Beamer.
"We are seeing a large group of transient workers currently who need to move with the next project,” she said. "But the promise of the new jail being built, that's going to provide a more permanent boost.
"There will likely be a correction in the market from what we are experiencing now after the works are done, particularly in the rental sector.”
The market has been flooded with an increase in the number of buyers in relation to properties available.
According to the CoreLogic Market Trends report, which looks at property data from May 2016 to May 2017, median house prices have risen as much as 27.2% in Junction Hill and 16.2% in Maclean in the past 12 months.
It has also resulted in properties staying on the market for a shorter period of time, down 3.8 per cent from this time last year to 57 days in Yamba 4.7% to 61 days in Grafton.
Vendors have reaped the rewards. But is it still a good time to buy?
"The buyers' awareness that they are getting good value for money is there,” LJ Hooker Yamba principal Mark Porter said.
THE real estate guide of the year, Sold On, will be inserted in The Daily Examiner this Wednesday (August 23). The magazine provides comprehensive snapshot of market trends in each suburb across the Clarence Valley.
Whether you're looking to buy or sell, this first edition is essential to get all the information you need to get the jump on the market.
This project is the first of its kind for the Clarence Valley region, delivering statistical analysis that will give buyers, sellers and investors an objective and unique insight into how the market is behaving. There is information on population growth, current housing prices and insights into rental yields.
Combined with in-depth profiles of Clarence Valley suburbs and opinions from the agents who know their area back to front, Sold On is not to be missed.