news

Orange market to see an upturn

By Staff Reporter

While there has been some weaker news coming out of regional New South Wales’ Orange, one property researcher believes the area is on the way back up.

Nexthotspot’s Andrew Peterson, in response to recent news about rental demand dropping, noted that the Orange market will soon see an uptick.

Allowing Smart Property Investment to be privy to his research, he pointed to a rising vacancy rate in the area that would have some investors alarmed.

However, “A centre of 40,000 or so population is prone to these types of movements – when 100 dwellings double the city’s vacancy rate, the percentage change is dramatic," he analysed.

"Across the Sydney basin, a doubling of the vacancy rate would mean around 37,000 more dwellings are vacant, which would be a significant issue.  In the big picture, 100 vacant dwellings in Orange is not a cause for concern.”

Having spoken with local real estate agencies over July, Mr Peterson was told that the vacancies have been increasing over the year and rents have softened. However, this was a result of the Cadia Underground transitioning from construction to operation, rather than a lull in the market.

Properties that had been achieving $420 per week, now appeared to be achieving $380, but this may see a pick-up on the back of multiple construction projects soon to come online.

He pointed to the sub-$350,000 investment point as the “sweet spot” for the market.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%
Orange market to see an upturn
SPI logo