At least six properties have sold for more than $1 million in Parkes in the first six months of this year with the property market in Forbes just as hot with at least five properties knocked down to buyers for more than the magical seven figure amount.
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The properties are mainly rural properties, but also include a hotel in Clarinda Street, Parkes, a medical centre site in Parkes as well as a development in Forbes which changed hands in May for $8.6 million.
And plenty more properties were knocked down for more than $500,000.
According to figures from the NSW Valuer General there have been a further 17 property sales in Parkes Shire from January 1 until the end of the financial year last week for at least $500,000.
"And it's still going up," Raine and Horne Parkes agent Sandra Tidsley said of the market which she says has been aided by low interest rates.
"It's good to see a lot of young people upgrading to properties worth over half a million or in the high fours," she said.
"I just recently sold a property for $820,000 a couple of ks out of town on an acre block."
In Forbes, in addition to the more than $1 million sales, a further seven properties were picked up by buyers in the $500,000 to $1,000,000 range.
The Valuer General's figures show the highest price paid for a Parkes rural property this year was $4.6 million for the sale of a 627 hectare holding on Henry Parkes Way.
Inside the Parkes town boundaries there were multiple sales of properties over the $1 million mark, with a hotel in Clarinda Street knocked down to new owners for $1,230,000.
House sales in Parkes have included $950,000 for a home on 9470 square metres in Nash Street and $850,000 for a home on four hectares in Cherry Gardens Lane.
In Forbes, an Angus Clarke Drive property changed hands for $715,000 in January and Grawlin Homestead on the New Grenfell Road changed hands for $3.8 million in May.
Ray White Forbes agent Kim Watt said the market "has certainly increased with people coming out of Sydney wanting to invest in the land and stock market".
"The people buying are a wide scope of people, not just people you would normally think, it's not just farmers wanting to expand," Ms Watt said.
"The market is very competitive at the moment, there's a lot of interest coming from all walks of life with the best are found through auction."
Ms Watt also said COVID had increased enquiries.
Ms Watt said there were bigger sales in the two centres that aren't yet listed on the Valuer General's report.
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