Local Property Market Responds to More Realistic Pricing

There is activity in the local housing market with  properties sales apparently responding to realistic pricing. The number of houses for sale in postcodes 3460 and 3461 has dropped by 10% over the past six months according to data from realestate.com despite a substantial number of new properties being offered for sale.

Of the Daylesford houses listed in July and remaining unsold, 24 had discounted their asking price. Reductions of 10% in the asking price were common with some properties dropping by over 25% from their original listed price range. This probably reflects a weaker market and the need for realistic pricing to attract potential buyers.

There was an increase in lower priced  offerings with five houses in Daylesford listed for under $600K with the lowest  at 13 Harts Lane listed at $500K. Hepburn Springs also had five houses listed under $600K.

A quarter of Daylesford house listings were under $750K. Many of these may be suitable for government assistance for first home owners or concession holders. (Advice about eligibility is available from the Community Bank.)

The availability of land for sale is probably understated with several  development estates in the area having properties on the market but not listing individual blocks.