Renting a property in Cootamundra has been as competitive as renting in a major city in the past with more people looking for homes than homes available.
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The closure of Manildra earlier this year saw a dramatic turnaround in this sector, according to Ray White Cootamundra agent Janet McAtear.
She noted an exodus of people leaving their properties, in particular flats and units and while the tide is steadying now, there remains a surplus of available rental properties on her books.
Mrs McAtear is confident this gap will tighten, however in the meantime, renters are being spoilt for choice.
When it comes to buying and selling, buyers definitely have the upper hand at present with Cootamundra houses sold garnering less now than they were two years ago by 1.1 per cent.
Based on 252 recorded house sales over the past 24 months, the median house price in Cootamundra has slipped from $223,500 to $221,000.
Based on 252 recorded house sales over the past 24 months, the median house price in Cootamundra has slipped from $223,500 to $221,000.
- Source: Pricefinder
With some bargains around, Mrs McAtear has been witnessing a spike in sales.
She currently has on her books four properties ready to settle and a further four under offer.
She has seen confidence return to Cootamundra following the closure of Manildra, which was the town’s largest employer and cost hundreds of jobs.
As former employees settle into new roles in and around the district, Mrs McAtear said people are seeing life will go on for the town and they are prepared to invest in a future in the town.
This confidence can only be further bouyed by news Manildra remains committed to re-opening their Temora Road plant for processing in the future dependent on livestock price fluctuations and industry dynamics.
She is anticipating an influx of houses to come onto the market at the commencement of spring with people holding off listing during the winter months when properties may look less attractive.