Southern Tablelands property sector to show positive outlook for house prices in 2020: HTW residential

As we enter the new decade, residential market fundamentals for the Goulburn area remain stable, according to the latest Herron Todd White (HTW) residential report. 

The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.

The report notes following a year of mostly low declining prices, there appears to be a much more positive outlook for house prices in 2020 with more buyers in the market, plenty of sales occurring and within reasonable selling periods when priced correctly.

"We expect the high level of construction activity to endure throughout the year with the Teneriffe and Joseph’s Gate developments now online.

"We have also noted an increasing duplex market emerging in these new estates, appealing typically to investors which will mostly likely continue in the new year," the valuation firm said. 

As at January 2020, realestate.com.au showed approximately 142 vacant land lots listed for sale in Goulburn, 2580.

A Goulburn 2,601 square metre allotment is currently on the market with a price guide of $258,000.

Zoned R1 General Residential, the allotment is situated at 14 Slocombe Street (pictured below). 

It includes available sewer, gas, power and water. 

"Is supply outweighing demand? This may result in some sites being discounted in order to be competitive and achieve a sale within a reasonable selling period," the valuation firm said. 

The recent bushfire events may impact the market sentiment of the semi-rural suburbs which have been reasonably popular in more recent times.

The report notes prior to Christmas, agents were reporting high numbers of enquiries and an increase in volume of transactions of rural lifestyle properties from mostly Sydney buyers.

Shanklin, a circa 1911 Queen Anne residence in Goulburn was sold for $1.16 million in February. 

The five bedroom, three bedroom house is situated at 24 Hurst Street (pictured below).

Set on 1,663 square metre, Shanklin features multiple living and dining spaces, alfresco pool area, and formal lawns and gardens. 

"We anticipate that this property sector may experience a period of lower demand, increased sale periods and falls in value, predominantly in the townships heavily affected by the recent bushfires," the valuation firm said.