The headlines will tell you that heat has well and truly come out of the real estate market in some areas, however our local figures are indicating there has not been a cooling in the Echuca Moama area. Based on our last 5 years of sales, Moama has seen a compound growth rate of 28.7% for houses and 21.8% for units, while the Echuca market has seen a compound growth rate of 24.3% for houses and 4.3% for units

In the past 12 months we sold a total of 224 properties in Echuca with a current median price of $550,000 – that’s a 24.3% growth over 12 months.

When it comes to units, Echuca has a current median price of $360,000 with a 4.3% growth over 12 months. We’ve also seen rental yields of 5% for homes and 6.1% for units for Echuca and a median weekly rental price of $447, while units are currently sitting at $400 per week.

Over the Murray in Moama, we sold a total of 165 home in the last 12 months with the current median house price sitting at $700,000. That’s an impressive 28.7% growth over 12 months. In our property management department, we had a total of 87 rental listings in the past 12 months, with the current median unit rental price for Moama sitting at $335,000 - a 21.8% growth over 12 months.

Rental yields for Moama houses are sitting at 4.8%, while units are an impressive 7.4%.

Moama is a popular place to rent with a median rental price of $550 per week, while the median unit rental price in Moama is $370 per week.

Despite the slowing of the market in some of Australia’s capital cities – an adjustment some would say we had to have – there is still growth happening in many areas. According to a recent realestate.com article there are bulletproof pockets of real estate across the country that are continually sought after, regardless of what the rest of the market is doing. These areas range from blue-chip suburbs through to up-and-coming areas steadily growing in popularity. The article explained that despite the slowdown in the housing market, experts say there are several areas, including Adelaide and Brisbane, that will retain their value and even continue to experience price growth. PropTrack economist Angus Moore explained in the article that “through the pandemic, Brisbane, Adelaide, Hobart, and many regional areas saw stronger price growth than the national average… benefiting from their relative affordability and a shift towards lifestyle locations and larger homes… and that continues to be the case”.

So, despite the headline-grabbing media talk about a ‘slowing’ market across the board, here in Echuca Moama the property market is continuing to see some strong results.

However, we are still experiencing a lack of properties on the market, so if you’re thinking of selling, now is a good time! We still have plenty of buyers out there looking for their dream home but unfortunately not many options for them to look at. If you’re keen to list your property for sale touch base with our sales team today on (03) 54 822 111. Find out more about our team over on our website here.

Data information source: realestate.com