Hot Gulgong property market soars: local expert

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National property prices for 2021 were on the up, and the Gulgong area hasn’t missed out.

CoreLogic released data last month showing that Australia’s property market had garnered outstanding growth in 2021, with an estimated value of residential real estate to be at an all-time high of $9.4 trillion.

Investors in Regional NSW also won big with Orange and Dubbo topping the list with about 1000 houses each sold and the median value working out to be $595,662 and $436,097 respectively.

Coastal towns Newcastle and Bryon Bay outshone others in apartments being sold, with $877,802 and 1,359,490 as the median valuerespectively.

And so, as the hot market bears down through to the central west, Gulgong Raine and Horne real estate principal Nic Stearman sees she’s going to have her hands full.

“It's gearing up to be a busy year,” she said. “There's a few awesome listings for sale coming up, and the Gulgong property market is as hot as ever with the average price of homes selling for over $400,000.”

“Rentals are in short supply, it's an excellent time to be an investor right now with properties achieving surprising rental returns,” she said.

Meanwhile, farmland sales are also predicted to surge in regional areas with many Elders senior real estate executive Simon Cheetham said that although many farmers had mixed results over the last year across the state, most grain and livestock producers have made superb output, with many going into 2022 in good financial positions.

"Now people have gotten harvest out of the way, they are again focussing on buying more land," Mr Cheetham told Farmland Weekly on Monday. "Many growers have been able to capitalise on high yields and strong grain and red meat pricing during 2021 and, whilst enjoying strong equity positions from increasing land values, they will continue to seek expansion opportunities.”

Back in Gulgong things seem to be chugging along nicely at Raine and Horne with some glorious properties available, including ones with secluded features and Airbnb potential.

Check out the Gulgong Raine and Horne website for more details.

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