Leeton's property market, prices holding firm

While pricing in metropolitan markets is starting to slip downwards, in Leeton shire agents believe prices are starting to settle at a level that is acceptable for both buyers and sellers.

However, supply does remain an issue, a sentiment which is echoed in the rental market.

The average house price in Leeton is around the $350,000 mark, which is up 27 per cent.

However, many homes on the higher end of the scale are still listing for much higher in the shire, as well as those at the other end of the market still providing the chance for a bargain.

Luke Santolin from Leeton Real Estate said for the first time in around 18 months, most agents in the shire were advertising reduced prices.

"This hasn't been the characteristic of the market for a while now," he said.

IN OTHER NEWS:

"That could mean two things. Either the prices are dropping or that consistent increase of pricing that was happening during the boom has come off the boil.

"It's not necessarily that they are dropping, they are just no longer rising at the rate they were."

It's a different story in a metropolitan market such as Sydney where new data has shown home home prices in Sydney fell -0.7 per cent month-on-month in July, the fifth consecutive monthly fall.

Price growth has also slowed rapidly in Sydney, according to the data.

Gino Amato from Amato Real Estate said his experience was prices were holding firm.

"When I say that, no doubt there will be adjustment at some stage, but because listings are light on and demand is still on par or above, we're holding firm," he said.

"If supply increases and impacts the demand ... things will start turning.

"We usually have a diverse price range here in Leeton. We're finding up to $600,000 is still running hot."

Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content: