The spring real estate market has finally hit its straps during the month of October after a slow start to spring, with an increase in property listings hitting the market and new buyer inquiries increasing in recent months. Across both our Shepparton and Numurkah offices, Gagliardi Scott Real Estate has listed a whopping 120 new properties since spring across the residential, farming, and land sectors!
Buyer confidence is on the rise, with (hopefully) an interest rate cut predicted in the first quarter of 2025 and a dip in the inflation rate. We have noticed first home buyers and investors coming back into our local market, which is a great indicator of confidence for our local market. Our median house price in Shepparton is $455,000, which has held strong for the last 12-18 months during the consecutive interest rate rises, while days on market are sitting at approximately 60 days.
As the major residential selling agency, land sales have really ramped up since spring, now consistently selling anywhere between 8-12 blocks a month. We service the popular North Shepparton precinct, including The North Quarter Estate, The Vines Estate, and the newly released Providence Place Estate, to Kialla, including Sevens Creek Estate, Sanctuary Park Estate and Emerald Bank Estate. Gagliardi Scott Real Estate caters to various budgets, land sizes, locations and preferences.
It’s vitally important that anyone planning to build in the next few years is aware they must register their interest in blocks in new housing estates. New stock of available land will become scarce in the next few years, and even if you’re not financially ready to build, you will have time before the block is titled, or can simply settle the land and build when you are ready. This is your chance to get your foot in the door.
