THE property market in Gol Gol and Buronga is “going gangbusters” as investors pounce on land in new subdivisions.
Independent real estate agent Paul Modica said the rapidly growing population in Sunraysia was one of the main reasons behind the boom on the NSW side of the river.
“This is fuelling the strong sales,” Mr Modica said.
“More people are coming to town and, with the low interest rates and government incentives, now is a good time to buy.
“You also have the next generation of 20-somethings coming through here and they want to build a house, buy a new car and get themselves set up in an affordable area.
“Much like the rest of Sunraysia, the property market around Gol Gol and Buronga is going gangbusters.”
He said the bulk of investors were local.
“There are not that many Melbourne or city buyers; locals are driving the strong market,” he said.
Mr Modica is the selling agent for two new subdivisions in Gol Gol – 3 Sisters Estate and Woodside Park Estate.
He said 19 of the 39 Woodside stage 2 allotments, ranging in size from 880sq m to 1242sq m, had already sold in the first six weeks on the market.
“Prices range from $150,000 to $185,000 and there’s been really strong interest in this land,” said Mr Modica, who has been running his business for the past 12 years.
“At the 3 Sisters, we’ve had 20 lots (of 39) sell so far this year. They are bigger blocks of 3000sq m, selling for about $250,000.
“There is plenty of value for money in both of these two estates.”
