Demand for medium priced housing in Bingara has strengthened in the past year, with indications the trend is continuing.
Real Estate agents in Bingara have, over the past 12 months, sold over 30 properties. The majority of the sales have been of existing houses, but some have been vacant blocks which either will be or are being built on.
According to Ann Reardon of JA McGregor Livestock and Property, most of the 16 properties she has sold in the last 12 months are in the mid-price range, with not many sales in the higher bracket.
“Most of the sales have been to the older demographic, people wanting to move here to retire,” Ann said.
“More jobs would bring more people to town though.” The majority of the houses which have sold have either been empty or have been rentals.
Christine Smyth of Ray White Rural told the Advocate that she has sold 14 properties in Bingara, with at least three blocks sold to people who have either started or intend building.
“Travellers who call here like Bingara, and some have bought vacant blocks which they intend building on, as well as homes so they can use Bingara as a base.”
“The few vendors who have left the town are mostly doing so reluctantly, and for health reasons,” she said.
In 2006, 72% of the homes in the Bingara area were owner-occupied, compared with 75.4% in 2011. Anne Reardon also told the Advocate that a boost in rural confidence (cattle prices etc.) has resulted in more people wanting to invest in rural properties.
