Market Wrap Up - December 2021

Let’s wrap up this year. Michael says:

Hi. Michael from Peter Fisher with a wrap up for 2021. What a year it’s been. To give you a little bit of an example, house prices alone have gone up 20% this year, 30% in the last two years. During the height of the pandemic we launched three properties in a week. I think I answered up to 120 phone calls on a Thursday, which was just amazing. The market is starting to level off at the moment. Inquiry is still very strong from Orange itself, and also from out of town. We’re expecting January to really pick up again, but I think everyone’s going to enjoy Christmas, so I think the perception for people at the moment is, let’s get Christmas out of the way and worry about buying a house next year.

Interestingly enough, the perception this year is that there’s been a lack of stock on the market. 292 houses sold last year, this year that number is up to 410. The difference has been lack of days on market. So as a lot of you would know, houses were often selling in the first few days, probably a week at maximum. That’s why I guess the perception was there’s not enough stock. In actual fact, quite a big increase. I think about a 45% increase in stock. My gut feeling is next year things are going to start to return to normal. I think come February when interstate travel is back on the cards, people are working back in the offices to a degree, kids are all back at school, I think the market is probably going to return to a normal market where it might be sort of a normal sale period from sort of three to six weeks. But the market’s certainly not going down. It’s still staying where it is and staying very strong.

In the last 12 months the medium price for four bedroom houses has gone up from $496,000 to $596,000. That’s a 20% rise in the average four bedroom home in Orange in the last 12 months. Bigger than that has been unit prices. 12 Months ago you were looking at $227,000 as the average unit price. That’s now gone up to $365,000. That’s a 38% rise in the last 12 months. So good news for all you unit owners. Since the 1st of January our amazing sales team have had offers accepted on over 170 properties. And that ranges from lifestyle blocks, houses, development sites, units, and even the Cumnock general store. That totals a figure of over a $100 million.

That’s very exciting for the Orange community. We are really excited about next year at Peter Fisher because it’s our 50 year anniversary. Now, I don’t think too many other real estate agents in Orange could boast that they’ve been in business for 50 years. We’ve got a lot of things planned, so certainly stay tuned. But I guess this year, I really want to thank all of the people involved at Peter Fisher, all the staff, the stylist, the photographers, everyone like that who has helped us, and especially all our very, very valued clients, our vendors, and our purchasers. It’s been fantastic working with you.

So we wish everyone a very happy, safe, and holy Christmas. Take the time, enjoy your family moments. Go and give everybody lots of great hugs. And at Peter Fisher, we look forward to seeing you then. Have a great Christmas. Bye-bye.