Bannister Real Estate, NSW, 2580 Upper Lachlan Shire

Bannister Real Estate Market Outlook

In Bannister there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Bannister is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. The slightly lower than average earnings from occupations in Bannister changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Lower than average population density constrains growth in Bannister to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Lower than average industry presence in Bannister we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Bannister a better buying opportunity than it may have been in the past.

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