Four bedroom homes and properties under 20 acres are in the sights of prospective buyers who are putting their names on waiting lists as the market warms up again after record winter sales. 

Describing the current market as an “under supplied”, PRD Tamworth principal and licensed agent Mark Sleiman said those considering selling their homes could be in for a quick sale – but only if they are “well priced”.

He said prices within five per cent of market value are the key to a quick sale, while those looking for more money could wait a little longer.

“We had an above average winter in our office, we were selling 20 to 30 per cent more stock than last winter,” Mr Sleiman said.

“But coming into spring there are people who have been holding off through winter to enter the market, this has given an under supply of listings on the market.

“Only the well priced houses are selling in the first four to six weeks, properties a little bit over sell a little while after but we are still getting good inquiries.

“What we are saying to clients is, if you are interested in selling there is no better time to do it, while the market is in such a buoyant state, there is less stock on the market, market conditions are good, the major capitals (cities) are going well and interest rates are at record lows.”

In addition to the demand for family homes, Mr Sleiman said there were waiting lists for smaller properties on the outskirts of Tamworth.

“It’s the lifestyle and proximity,” he said.

 “People love the small rural lifestyle properties, it offers proximity to town and work but you can also raise your kids in a farm lifestyle, have a bonfire at the back, ride bikes in the back yard and have a few poddy calves or sheep.

“This is the lifestyle that Tamworth knows and loves, there is a lot of sub division occurring inside town but a lot of people have gone through that over the last five-to-ten years and have decided they are ready for that different lifestyle.

“We can’t get our hands on enough of it, properties under 20 acres are in huge demand.”

Burke and Smyth business owner Jason Wherritt agreed there was a slight under-supply in the local market which was unusual for spring, but demand for properties was still strong.

“Stock levels are still fairly low for this time of the year,” he said.

“Normally spring activates the market and brings a lot of people into the market place thinking of selling.

“Winter was a little bit slow with the election and it did slow down the market, in my opinion the threat of negative gearing being removed as a bit of a tax advantage for people also slowed things down.

“We’re now getting back into the rhythm of it, but properties are definitely selling quick, there is a fairly strong demand.” 

Mr Wherritt said Burke and Smyth had also experienced a surge in demand for hobby farms with a database of buyers ready to buy.

On the residential front, he reported an increase in sales in the Hillvue area with both investors and owner occupiers looking to buy pre-loved homes.

“The lower price level homes are going fairly quickly, but your higher priced properties are getting some strong interest from out of town aswell. The Hillvue area is definitely active at the moment, those homes between $400,000 and $600,000 are selling quite well,” he said.