Price is right in real estate

THE price is right for Mildura homebuyers and investors, according to local real estate agents.

The recent release of the State Government’s Victorian Property Sales Report for houses and units shows median Mildura house prices dropped 9.8 per cent in the past quarter, from $235,000 to $212,000.

Mildura’s median unit price rose 12.1 per cent in the past quarter, from $140,000 to $157,000.

There were 131 house sales in the past quarter, while 37 units were sold.

Roccisano Property Group consultant Michael DePalma said the numbers in the report corresponded with what was happening at the business.

“It’s certainly an affordable market for buyers and investors,” he said.

Mr DePalma said while the top end of the market was “under pressure”, the lower end was moving quickly.

“We’ve moved a lot and there’s lots of interest from locals and outside investors,” he said.

Mr DePalma said it was a good time to enter the property market.

“People moving up in the market, going from a unit to a house or a three-bedroom home to a four-bedroom home, it’s a good time for them to buy,” he said.

“And if you have a house (priced) mid-$200,000, there should be some interest in it.

“It’s reflective of our market.”

Paul Modica, director of Paul Modica Real Estate, told Sunraysia Daily there were some “absolute bargains in Mildura”.

For more of this story, purchase your copy of Wednesday's Sunraysia Daily 19/12/2012.

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