Market Report December 2017

Well what a year 2017 has been in and around Bacchus Marsh.

A busy year in local real estate with demand for properties outstripping supply and prices increasing accordingly.

There were 40 sales recorded for the postcode of 3340 in the month of December and there were 60 new listings for the month.

This year has seen strong growth in the local median prices with the following suburbs performing well:

Darley – Median house price in December $420,000 a growth of 12.5% from January 2017

Bacchus Marsh – Median house price in December $409,500 a growth of 8.2% from January 2017

Maddingley – Median house price in December $380,000 a growth of 10% from January 2017

Things don’t look like slowing down in 2018 either with strong demand for properties throughout the Christmas period.

A large amount of buyer demand is coming from outside the local area with people appreciating the value for money, lifestyle and safety that Bacchus Marsh has to offer as well as the ease of commuting to Melbourne, Geelong or Ballarat for work.

Bacchus Marsh Grammar has continued to be a draw-card for the area with many families looking to move to the area so that their children can be close to the School.

There is also strong demand for rental properties in the area with the median rental price being $347 per week and a low vacancy rate throughout the year.

The team at Arbee Real Estate Professionals would like to take this opportunity to thank all of our valued clients for their business during 2017 and we look forward to working with you as well as new clients throughout 2018.  We hope that you all have a very Safe, Happy & Healthy New Year.

Steve Creese

Sales Manager / Director

*Data sourced from realestate.com.au & corelogic.com.au