Buying up: Top dollar Tamworth homes are hot property

TAMWORTH'S real estate renaissance continues apace, with a clutch of million-dollar properties changing hands in the first few months of 2014.

In one of the strongest signs yet, the battered market has lifted itself off the canvas, as three homes in East Tamworth and acreages in Impala Estate and Burgmanns Ln have all fetched close to or above the magic million mark.

Two more million-plus properties in East Tamworth are under negotiation, one believed to be above the city's all-time record price of $1.3 million, which was reached in 2012 for a home on the corner of Upper and White streets.

LJ Hooker Tamworth director Richie Thornton said the higher end of the market was tracking "well above" what it had in recent years.

"It's showing that confidence is returning to the market," he said.

"There's also more activity than we've seen in a long time on land developments."

Despite his agency breaking the West Tamworth price record this year for a $500,000 property in Denne St, Mr Thornton said he was hopeful of seeing more movement in the $400,000 to $600,000 range across the city.

The Professionals Tamworth general manager Graeme Kruger said low interest rates, falling unemplyment and a more fiscally- responsible federal government had also buoyed the housing market.

"People at the upper end of the market tend to think more about things before they make a decision, they don't just jump in," Mr Kruger said.

"We've seen the nervousness that came after the global financial crisis ease and a bit more stability following the federal election. Our data shows over the past 12 to 24 months, there haven't been the same number of buyers in the $800,000 to $1.2 million range as there are now.

"What's happened over the past few months is very exciting.

"It's not just our company either everyone has had a slice of it."

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