Westbury property report

September 2017

STATISTICS SHOW that Westbury is experiencing a buoyant property market. At just over the halfway point through 2017, at least 38 properties have sold and settled; compared to a total of 56 for the whole of 2016. This compares with a recent high point of 67 in 2015, up from 58 properties in 2014 and 59 transactions back in 2013.

Recently released figures by the REIT indicate the median Westbury house price for 2017 is tracking at around the $292,500 level compared to $270,000 for 2016; bearing in mind the smaller sale number results and sampling could easily distort the median figure if more dearer or cheaper properties are selling through that review period. Although it still does reflect the sale activity of the actual time being examined.

The average time taken for a property to sell is dramatically down from 127 days on the market in 2016 to only 33 days at this point in 2017; with many properties that have been for sale for long periods have finally sold and new property listings moving relatively quickly if correctly priced.

“With the many open homes and other viewings I have conducted this year, there have been significant numbers of potential purchasers from the mainland, with recent sales confirming this fact,” said Peter Darrow of Peter Bushby Real Estate in Launceston.

Westbury is increasingly becoming a lifestyle choice for people wanting the security of a safe, friendly and less stressful village environment that is still close and accessible to Launceston.