Mildura Property Market Update - June 2024

Amazing that we are already half way through 2024 and, yes, in middle of Winter! We're still searching for our famous Sunraysia "Wintersun" but hopefully the cold start to Winter means we have some sunshine coming up! In our region, we have the  busy July school holidays coming up for Mildura so while we've had some quieter weeks we expect the town to fill up shortly! All local accommodation is still reporting low vacancy rates and this will continue throughout July with Victorian & NSW school holidays about to begin followed by SA.

Our local property market is still retaining it's resilience despite no relief from the 2023 interest rates hikes, with low stock levels and record low rental vacancy rates combining to keep the Mildura property market steady which we expect to continue through the rest of Winter. Most of the local property market is price sensitive (which is expected after last years massive interest rate hikes), especially above $600,000, but all homes priced correctly are continuing to sell well. We have also seen lots of commercial enquiry and sales with Sandhu exceptionally busy with enquiry in that space from out of town investors keen to purchase blue chip commercial property in our region.

A quick reminder for all thinking of selling in Spring this year, our local Spring market begins in August (as soon as we get sunshine all day and we see bud bursts in all gardens in the region) so if you have not already given us a buzz, call our office today on 03 5021 4555 to make sure all your plans are on track to ensure you achieve the best result when selling and ensure you go to market at the best time with the best strategy.