Goulburn property market catches its breath in 2023

Ray White principal Justin Gay says the two recent sales of 93 Bradley Street shows Goulburn’s market is resilient. The charming two-storey home sold for $1.343 million in June, 2022, then returned to the market in June 2023 with minor improvements and fetched $1.650 million. Photo: Ray White.

Red-hot post COVID-19, Goulburn’s property market cooled over 2023 and agents are hoping for a buoyant beginning in 2024.

Ray White Goulburn principal Justin Gay said that in 2022, 500 homes came on to the local market, compared to 360 in 2023. While the first quarter of 2023 favoured sellers, the second and third quarters swung in favour of buyers before the market stabilised in the final quarter.

“We continue to see growth with the appeal of moving south from our cities and enjoying the rewards that our region offers,” Justin said. “This continues to provide Goulburn with a resilient market that has protected us from the highs and lows experienced by our capital cities.

“Goulburn period homes in established streets in our dress circle continue to be sought after and are always well received in our marketplace.”

He said median house prices fell marginally from $672,500 in 2022 to $665,500 in 2023.

Ray White Goulburn is marketing 100 blocks in Teneriffe estate, one of three estates offering available land, and sales have been strong. These blocks are due for completion in June 2024, which should boost the new-build market in the second half of the year.

Raine and Horne principal Zeb Alaia said 2023 had been an eye-opener due to the extent the market slipped on uncertainty over interest rates. “I know the big metropolitan markets Sydney and Canberra did quite well; normally we have a flow-on effect from them but in this case we had only little bits come through,” Zeb

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