Emeralds housing market resurges as owner-occupiers return
EMERALD'S housing and rental markets are beginning to show signs of a pulse.
Rentals, tallied by the Central Highlands Development Corporation stood about 370 late last month across the region, were stuttering to life again with CD Adams shifting 21 properties on its books in one week, and then regularly up to 10 after that, principal Clinton Adams said.
Bargain hunters can snare four-bedroom homes anywhere from $400-600 - almost half of what they were, while a comfortable two-bedroom unit ranges from $250-400.
"A lot of our clients are saying they are used to high revenues from their rental properties, and we're saying it's now more important to keep rental properties occupied, to consider all offers," Mr Adams said.
"There are a lot of people finding it tough, but there are some elements that I think are starting to turn."
After a blowout in housing stock triggered by the downturn in the resources sector and an exodus of retrenched workers, Mr Adams said sales were starting to pick up with many new owner-occupier buyers.
"There's still people, if the properties are priced correctly and close to market price they are selling, and slowly but surely there are signs the market is improving.
"I think investors will start to come back later this year. I am optimistic, but this has been a tough six months for everyone and I don't think it matters which industry you're in."