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Western Plains homes selling like hotcakes

Western Plains App

Laura Williams

09 October 2021, 6:13 AM

Western Plains homes selling like hotcakesThe housing boom has hit the Western Plains, sending real estate agents looking for stock to sell.

 House prices have soared in cities and along coastlines, growing increasingly unattainable with each year. First home buyers have been pitted against investors, each clawing for a million-dollar house that boasts one bedroom and a parking spot just 3 kilometres down the road. From a distance, it’s easy to watch, bemused.  

  

Now, the Western Plains is experiencing its own real estate boom, with properties across the region being snatched up by home-buyers across the state.  

  

Bourke-based real estate agent Sharon Dickson says that after years of relative stillness, houses are starting to turn over quickly in Bourke.  

  

“We’ve got people upsizing and downsizing and moving around,” Ms Dickson said.  

  

It’s not only properties that are fresh on the market that are attracting interest, but suddenly houses that have been on the market for “quite some time” are starting to gain selling momentum.  


This house in Coonamble is one of the many changing hands across the western plains region in recent weeks.  


There are a few factors that have caused the winds to change, largely caused by the real estate storm that has clouded Sydney.  

  

With sky high prices and fierce competition locking buyers out of the market, investors have been pushed further afield.  

“It doesn’t take very long to realise that towns like Bourke, Trangie, Brewarrina and Cobar have got a really good return on the market,” Ms Dickson said.  

  

After facing months of lockdown, the appeal of a more isolated, community-based place to call home is finally being exposed to city-dwellers.  

  

The pandemic has brought a versatility that workers haven’t known before, allowing them to work remotely from their tree-change destination. 

  

“I’ve had people relocate during this pandemic that have come from other bigger towns that have come out here to live for a quieter lifestyle. A bit more fresh air and a bit more freedom,” Ms Dickson said.  

  

Bourke isn’t the only place to see the shift, as the market has seemingly rocketed across the Western Plains including the likes of Warren and Coonamble.  

  

Coonamble real estate agency Halcroft & Bennett have made a bold move following the rapid take-up of listed properties, calling out for more listings, desperate for stock. 


"We probably haven't seen anything like it since about 2013," said H&B's Fiona Foodey. "2011 was really busy and 2013 when there were a lot of investors chasing cheaper properties and higher investment returns, but this time it's locals and people wanting to move here."


According to Mrs Foodey, some of the buyers are retirees but there are others who are "just sick of the city" and looking for a better life and more space.

"They're selling their homes in the city so they have money to spend," she said. "They're buying whatever they can."

"We've sold fixer-uppers to established houses."

  

According to real estate website Domain, dwelling prices across the state have risen at almost double the rate of values in Greater Sydney, according to the latest quarterly report.  

  

Ms Dickson says that local markets are yet to see a significant surge in prices, but as popularity grows, anything is possible. 

  

On average regional NSW house prices have grown by 26.7 per cent over the last year, although the likes of Byron Bay, Newcastle, and the South Coast are likely the cause behind such a high figure.  

  

“With more money coming into our town and people moving here, that all filters down from your real estate agents to your grocery stores and produce stores, medical and schools,” Ms Dickson said.  

  

“That sort of stuff serves a really, really positive step for our Western town.”