Certain events in life can trigger the need to sell up and move, such as a growing family, a new job or retirement.
If you are considering making a move, the news of falling house prices across our major cities maybe making you think twice, however, as we all know, life for us in regional Australia can be very different to our city-living cousins.
We ask local property experts Gary Ferris and Jim Spencer from Webbs Real Estate "what is happening in the property market?"
"This is a really interesting question, especially when it comes to Gloucester," said Gary. "It's not all doom and gloom despite what you might be hearing about the Sydney market.
The Gloucester residential market is still going strong.Gary Ferris, Webbs Real Estate
"In spite of negative publicity around the major metropolitan real estate markets, and the likelihood of a potential further drop in median prices for metropolitan real estate, Gloucester still has plenty of eager buyers".
Gary went on to explain that "Record prices continue to be achieved. The biggest issue we have at the moment is currently a shortage of stock - it's the lowest I've seen in the past ten years".
Jim added that "the occupancy rate for rental properties in Gloucester is close to 100%.
"Return on investment for properties in Gloucester is often more than double what can be achieved in the Sydney market.
"The median price for houses in Gloucester makes investment properties very attractive for Sydney investors and property investors in general.
"It's the magic formula: low cost of entry, plus occupancy and stronger than average returns, together equals an attractive investment"
Gary added "up until about six months ago we would have described the market as a buyer's market, but the pendulum has started to swing for Gloucester.
"If you are a seller, now is a great time to assess your property options.
"Webbs Real Estate has been selling more than a property a week (on average) for the past year and this has continued into 2019.
"The time taken to sell properties is continuing to shorten which reinforces the strong buyer demand".
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Big things come in small packages, is a saying that comes to mind when describing what Gloucester has to offer.
Not only with things to see and do but when it comes to real estate, this town packs a big punch.
In fact, as Jim Spencer from Webbs Real Estate says Gloucester has the trifecta; low cost of entry, high occupancy and stronger than average returns.
Added together, these three all equal to a very attractive investment.
- Median house price: $280,000
- Previous median house price: $275,000
- Year-on-year growth: 1.8%
- Numbers of homes sold in previous year: 89
- Rental yield: 5.2%
- Current median rent for a house: $280