Kyogle Property Watch Q1 2014
There is documentary evidence that Kyogle Local Government Area (LGA) has a proven track record for community and infrastructure development, job creation, cultural diversity and sustained economic growth. The township has a mosaic of agricultural and natural landscapes, subtropical climate, reliable rainfall, biodiversity and welcoming environment that provide residents with a great sense of well-being and high returns for investors.
In this report, market data on the Kyogle housing market for the past ten years is analyzed and supported. It is expected that this report will provide a guide to investors who wish to take advantage of a booming housing market in their investment decisions.
The Kyogle house market witnessed sound growth reporting an increase in the market share due to correction in median price growth three years to close December 2013. Even more impressive is that in three years ending December 2013, house sales made a quantum leap by 50 percent whilst the house median price decreased by 12 percent. In the past twelve months ending December 2013, house median price stood at $230,000 and house sales increased by 43 percent in the same period and has improved by 50 percent in the first quarter of 2014.
There has been a shift towards the more affordable end of the Kyogle market over the past three years as shown in the house price point chart which is due to new stock being more affordable and more buyers seeing value in the region. This growth can be attributed to the fact that since 2010, a total of $36 Million dollars were committed to infrastructure development and has led to an attractive rural market, improved business confidence and faster returns on investment.
The positive, consistent and impressive trends in the Kyogle housing market strategically position Kyogle, making the area attractive to the first home buyer and savvy investor.