House prices stay strong in Carnarvon

Ashleigh Telford, Northern Guardian December 15, 2011, 9:34 am

House prices are tracking well in Carnarvon despite a Statewide downturn.

Real Estate Institute of WA figures show Carnarvon’s median house price is up 9 per cent on the previous year despite the rest of regional Western Australia showing a 2.5 per cent loss.

Carnarvon Ray White licensee Ted Shultz said this year was better than last year but the figures did not completely reflect what was happening in the local market.

“You have got more people buying at the higher end of the market at the moment which is why the figures are showing that prices have gone up,” Mr Shultz said.

“With such a small market it only needs variation at one end or the other to skew those statistics.”

Carnarvon’s real estate market is on par with the rest of the State, he said.

Most median house prices in Carnarvon’s suburbs are up from last year, with Brockman showing a 27 per cent increase.

The only exception is East Carnarvon which showed a 2.7 per cent downturn.

But Mr Shultz said people with properties in the area should not worry.

“East Carnarvon is actually very sought after, there are very few rental vacancies and very few properties that don’t get snapped up as soon as they go on the market,” he said.

He attributed the figures to the fact very few people were putting their houses on the market in East Carnarvon.

Demand is steady and rental vacancies were low, according to Mr Shultz.

ASHLEIGH TELFORD


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