Serious buyers, including investors and first home buyers seeking to capitalise on less competition and low interest rates, are active in the Orange property market during the coronavirus pandemic.
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Covid-19 restrictions and uncertainty is leading to a gradual reduction in the number of properties for sale but real estate agents said there was still buying demand.
Property websites Domain and realestate.com.au said there were about 242 houses and about 24 units and apartments for sale in Orange on Thursday.
McCormack Barber real estate director Peter McCormack said the coronavirus was having an impact.
"We are noticing there are less houses coming on the market," he said.
The enquiry levels are ramping up over the last 10 days or so.
- Andrew Vogler, Century 21 Combined real estate
"April is the worst month to sell houses in Orange. Historically there is a massive dint [in sales]," he said.
Mr McCormack said uncertainty created by coronavirus had led to mainly serious buyers and sellers being in the market. "Unless you have a need to sell or to buy at the moment people are out of the market," he said.
Mr McCormack said "savvy" investors and first home buyers were capitalising on low interest rates and reduced competition from other buyers.
"The lack of competition is going to make it easier for first home buyers," he said.
Century 21 Combined director Andrew Vogler said demand was picking up for both buying and renting in Orange after the initial shock caused by coronavirus-led business closures and restrictions.
"When the initial lockdown restrictions were put in place, people cooled their heels for a week or so," he said.
"[But] as the days have gone by, the enquiry levels are ramping up over the last 10 days or so. Rentals are very, very busy. It's a very busy market, it's still active."
Mr Vogler said serious first home buyers were now in a better position.
"In the under-$500,000 market, in the last six months it has been very competitive. Now with less competition its gives them a cleaner run," he said.
He said people were adapting to the halt on open day inspections with Sydney residents now putting in offers to buy Orange homes after only viewing them online.
And a five-bedroom house at 96 Dalton Street, sold for $1.09 million by McCormack Barber last month, has joined the list of about 20 houses to sell for more than $1 million in the Orange CBD.
Million dollar-plus residential properties sold within the Orange CBD include:
- 39-41 Byng Street, $1.855 million, Benchmark Rural and Lifestyle
- 21 Summer Street, $1.6 million, LJ Hooker
- 27 Byng Street, $1.5 million, McCormack Barber
- 78 Byng Street, $1.46 million, McCormack Barber
- 14 Kite Street, $1.45 million, LJ Hooker
- 26 Kite Street, $1.4 million, LJ Hooker
- 177 Anson Street, $1.39 million, One Agency Orange
- 65 Clinton Street, $1.32 million, Peter Fisher
- 151 Hill Street, $1.3 million, McCormack Barber
- 131 March Street, $1.295 million, One Agency Orange
- 15 Sale Street, $1.29 million, Benchmark Rural and Lifestyle
- 26 Byng Street, $1.28 million, John Cook Real Estate
- 72 Byng Street, $1.27 million, McCormack Barber
- 175 Anson Street, $1.25 million, McCormack Barber
- 3 Clinton Street, $1.225 million, LJ Hooker/McCormack Barber
- 40 Clinton Street, $1.2 million, Williams Machin
- 36 Hill Street, $1.1 million, Blowes
- 96 Dalton Street, $1.09 million, McCormack Barber
- 39-41 Byng Street, $1.03 million, McCormack Barber
- 62 Byng Street, $1.02 million, Townsend Real Estate
- 52 Kite Street, $1 million, LJ Hooker.
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David Fitzsimons
I am a senior journalist at the Central Western Daily concentrating on council, government and real estate issues. Before moving to Orange I filled senior roles at the Daily Telegraph, Daily Telegraph-Mirror and the Daily Mirror in Sydney. They included being an editor, news editor, chief of staff and reporter.
I am a senior journalist at the Central Western Daily concentrating on council, government and real estate issues. Before moving to Orange I filled senior roles at the Daily Telegraph, Daily Telegraph-Mirror and the Daily Mirror in Sydney. They included being an editor, news editor, chief of staff and reporter.
