Orange lifestyle in high demand
All signs are pointing to another strong spring for real estate sales in Orange, says local agent Michael Wright.
Michael, an experienced Residential and Rural Specialist Agent with Peter Fisher Orange, said the recent auction of five premium Nashdale properties for $8.15 million shows just how healthy the Orange Market is at the moment.
“The beauty of it was there hasn't been too many properties like this that have gone up for sale in the last little while, so it has been a litmus test for the market. I think it has proved, as everyone seems to be saying, just how strong it is,” said Michael.
“I’m not sure if it is a record, but we were involved in “The Bridge” sale a couple of years ago and we got $7.8 million for that — this being $8.15 million… I think it would certainly give the record a pretty fair nudge.”
The five properties, located on Nancarrow Lane and Canobolas Road, were purchased by a single local buyer, but Michael said they had a lot of interest both locally and from buyers all across eastern Australia.
“We used Orange City life pretty well, we took an extra full page which got a very good response from the market locally… we had some very strong local buyers who were interested in properties from all different price ranges from the highest to the smaller ones. We also got very good enquiry from out of town and even interstate — from Victoria and Queensland — and strong enquiry from Sydney as well,” said Michael.
Traditionally, Winter sees fewer houses on the market in Orange, but sales have been strong these past few months, said Michael.
“The weekend after the election we sold three properties, with offers on a fourth and that activity level has pretty much continued,” he said.
“We continue to have very good general inquiry and I think all signs are pointing to strong Spring, especially with the drop in interest rates, and now we are hearing that the Sydney market is starting to turn around.
“In Orange, there continues to be good growth in house prices and that is over most sections of the market from lower price to the higher price properties, so there is probably not a better time to take the plunge and get in.”
And you only have to look around at all the construction taking in place in Orange to know the future is bright, said Michael.
“I don’t think I've ever seen three high-rise cranes in Orange before, as we have the last few months… and driving around town you are seeing motels with no vacancy signs up as well so I think that says a lot for our future and a lot for the Orange lifestyle.”