The Daylesford and surrounding area property market continued to remain soft with the asking price of many properties being reduced in the face competition and limited demand.
Houses listed for sale (realestate.com.au) rose over 3 months by 5% to 158 listings with Daylesford increasing from 89 to 95 houses for sale.
| HOUSES | ||||
| Location | December 2023 | February 2024 | May 2024 | New listings |
| Daylesford | 78 | 89 | 95 | 21 |
| Hepburn | 27 | 25 | 24 | 4 |
| Glenlyon | 7 | 8 | 8 | 1 |
| Others | 30 | 28 | 31 | 4 |
| Total | 142 | 150 | 158 | 30 |
Daylesford had 21 new listings compared to February indicating the sale of approximately 15 houses. (The data is unclear as some may have be removed from sale and other listings may have been listed and sold within the quarter).
| LAND | |||
| Location | December 2023 | February 2024 | May 2024 |
| Daylesford | 25 | 23 | 24 |
| Hepburn | 10 | 9 | 9 |
| Glenlyon | 12 | 10 | 12 |
| Others | 23 | 17 | 15 |
| Total | 70 | 59 | 60 |
The offering for land remained constant with 16 listings sold or removed in the quarter but these were replaced by new listings.
Price drops were common compared to February 2024. Thirty-two percent of properties that remained unsold from the previous quarterly had their asking prices reduced with reductions greater than 10% not uncommon.
Thirty properties were listed under $700K potentially making them suitable for government assistance for first home owners or concession holders. Advice is available from the Community Bank about eligibility for first home buyer assistance.
Related stories:
Daylesford Property Glut or Realignment?
Plenty of Choice in Local Property Market
