SOLD: 9 Charlton St, Emerald, sold for $410,000 on March 7. INSET: Principal at Ray White Emerald Paul Muldrew.
SOLD: 9 Charlton St, Emerald, sold for $410,000 on March 7. INSET: Principal at Ray White Emerald Paul Muldrew. Contributed

Emerald's real estate market continues to rise

EMERALD is a market on the rise, with three homes selling above $240,000 in the past week.

Of the three homes, 9 Charlton St sold to a family for $410,000 after spending 294 days on the market.

Principal at Ray White Emerald, Paul Muldrew, said a majority of people currently buying houses in Emerald were owner occupiers.

Principal at Ray White Emerald Paul Muldrew.
Principal at Ray White Emerald Paul Muldrew. Contributed

"People are buying the properties to move into due to the affordability in the market,” Mr Muldrew said.

"The market is starting to rise. I think people are jumping and getting in before it starts to go up a little bit higher.

"With rents increasing as well, people are probably thinking it is not a bad time to get into their own property - they can put that extra money into their own premises.”

Mr Muldrew said anything in the lower end of the market was in high demand.

"There is a fair bit of interest and activity for properties under $200,000 because of the affordability factor,” he said.

"There are a few properties out there in that mid-range, like 9 Charlton St, but the most active part of the market is the lower end. Generally, for someone buying in the lower end of the market it is their first home, whereas someone buying in the mid-range it is usually their second or third.

"However, we have also sold a few properties recently in the higher end as well.”

Mr Muldrew believes the market is going to gradually keep increasing and moving forward into the year.

"We are seeing rental prices start to increase as well, so that is a good indication that things are picking up,” he said.

"Things have swung around from where they were three years ago and are trending in the right direction.”



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