With just over 20 properties available for sale in Orange this week under $400,000 it is becoming tougher for people to enter the housing market.
Real estate website realestate.com.au said on Thursday there were only seven houses and units for sale around $300,000 and nothing below $250,000.
Century21 Combined Orange director Andrew Vogler said demand far exceeded supply at the entry level point.
"We've got a long list of people looking for that price range," he said.
The median price for houses in Orange this week was $530,000 while it was $329,000 for units.
Mr Vogler said the prices had steadily been rising.
"To try and find something under $200,000 would be very challenging. It's nigh on impossible," he said.
"That's probably the next challenge trying to get anything under $300,000."
He said a lot of first home buyers and investors were looking in that range.
Mr Vogler said it suited buyers who were flexible and were willing to consider upgrading or renovating these properties.
He said he had a three-bedroom house currently under offer in Brunswick Street with a price range of $300,000-$330,000.
The latest official sale figures from the NSW Valuer General show there were 23 properties which sold for $200,000 or under in Orange in the first six months of this year.
Just two years earlier there were 60 homes which sold in that price bracket in the same time period.
And last year, even allowing for the impact of the COVID restrictions, 69 homes sold for $200,000 or under in Orange in the same time.
One Agency Orange licensee Ash Brown said many units and townhouses were now priced at more than $300,000.
"What we've seen is units and townhouses come out of the blocks," he said.
"There's still opportunities out there for people," he said.
Mr Brown has a two-bedroom unit in Sampson Street for sale with a price range of $380,000-$390,000.
He said first home buyers were looking at properties from around $400,000 up to even $700,000.
"They are still very active. They don't have much financial history therefore the banks like them," he said.
"The majority of them are looking for houses."
Mr Brown said unit buyers in Orange tended to be single first home buyers, investors and baby-boomers down-sizing.
The price of land in Orange is also more than $300,000.
The lowest cost residential block listed this week in Orange was $319,000 for a lot in Joseph Drive, south of Orange. Other blocks around $320,000 are available in Milne Street in north Orange.
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