As We Thought - Its Been A Busy Sunraysia Spring Property Market 2024!

Well, as we head into Summer in Sunraysia, we can catch our breath after a busy Spring Selling Season! Totally reversing the 2023 average Spring property market, this year has seen steady growth and strong buyer demand for most property types across the region. First-time buyers and downsizers are particularly active, taking advantage of competitive interest rates and Mildura’s affordability compared to metropolitan markets.

The rental market remains strong, with low vacancy rates and rising rents making it an attractive prospect for investors. Meanwhile, the area's relaxed lifestyle, outdoor opportunities, and thriving community continue to draw families and retirees seeking a tree change. Buyers agents are exceptionally busy at the moment especially searching for properties under $00 that are fully complaint for current state minimum rental compliance requirements driving up sales prices achieved in the section of the market significantly. We are also very strong prices for properties well presented and correctly priced, with time-poor buyers happy to pay extra for homes that require minimal improvements. The current median house price for houses in Mildura is $450,000 which has increased nearly 50% in the last 5 years, but is still more affordable than most other regional centres of the same size across the country.

We expect a slight pause over the Festive Season but continued demand through the early months of 2025.