SUNRAYSIA house prices were continuing to hold up amid the coronavirus pandemic, but some one group of potential sellers is said to be hesitant about putting their homes on the market.
Valuation firm Herron Todd White, in its monthly property report, said there was still some uncertainty in the Mildura real estate market.
“The local market continues to show some uncertainty with agents still reporting reluctance by many vendors to put their homes on the market,” the report said.
“This is more evident in the higher value range due to concerns that buyers may not yet be willing to pay a substantial amount in this time of uncertainty.
“Sales which are occurring indicate that values have held up well so far.
“Agents are reporting that more recently they have seen an increase in listings from the low point in April and May, however the current listings continue to mostly comprise properties at the lower to middle price point of the market.”
Sales of vacant house lots were said to have held up well as government stimulus measures helped keep buyers motivated.
Herron Todd White found there was still strong rental demand and investor interest.
Stimulus measures for building and renovation work were also leading to “a significant increase in enquiries” for builders in the region.
