Roofers lift market
Tuesday, 9th January, 2018
By Kara de Groot
The property market in Broken Hill has been doing well over the last 12 months, according to a real estate agent.
To no one’s surprise, this was largely driven by the number of roofers and contractors in town, according to First National director Zeta Bennett.
“For the last 12 to 18 months we’ve been experiencing good sale demand, so lots of turnover in properties and fairly consistent from month to month,” Ms Bennett said.
“The rental market has been strengthening over the last 12 months too; there’s very high demand and very low vacancy rates,” she said.
“The biggest driver has probably been the contractors in town, but generally Broken Hill’s quite a transient community so you have people coming in and out for work all the time.”
First National said they secured more than 140 new tenancies in 2017, and eight to 10 house sales a month. Given that they’re one of several real estate agencies in town demonstrates that the market’s healthy.
Ms Bennett said with construction of the Silverton Wind Farm ongoing, and the pipeline set to begin, there’s sure to be continued growth in the property sector.
“The residential market is moving quite well and prices are steady. The commercial market is a bit slower in Broken Hill with less demand,” she said.
“Vacant land is moving along as well. It’s not as strong a market as improved homes but there’s certainly buyers out there looking in certain areas. We’re keeping busy.”
Ms Bennett said she expected these trends to continue in the short to medium term.
“I always recommend that people seek advice on the market and their property and then make a decision that best suits them at the time.”