In a hot housing market here’s 10 homes on the market for under $430,000

In a seller’s market, finding an affordable home is a huge challenge so buyers need to be prepared to be flexible on what kind of property they can afford and where they want to live in 2480.

SELLERS MARKET: Homes for sale are selling off the market as agents have more buyers than sellers looking to purchase.

Affordable housing may sound like an oxymoron to those looking to get a step on the property ladder, but there is hope for those looking to own their first home.

According to Realestate.com, currently the median house price for a property in Lismore is $390,000, with two bedroom properties having a median price of $378,500, three bedroom properties $427,500 and four bedroom properties have a median price of $467,500.

Online visits to properties in Lismore are sitting around 979 per property, confirming the area is in high demand.

From manufactured homes which have a $120 weekly fee, through to stand-alone houses requiring renovation through to move-in ready units, properties are available.

But competition is tough and having all your paperwork sorted so you don't get snookered when making an offer is essential.

Another element is to be prepared to be flexible on location and any work you may need to do to make the property your dream home.

Agent Nathan Gordon said it was surprise that properties in Lismore and surrounds were being snapped up for the asking price and above.

Mr Gordon said a property at 56 Casino St, South Lismore, sold for the listed price of $379,000 after a very short time on the market.

“This property sold for the asking price and it has been purchased by an investor,” he said.

“It is currently being rented at $350 a week and has been for the last two years but it could easily get $400 a week in the current market.”

Mr Gordon said a lot of properties on the market were being sold by investors because they could see good returns.

“We have a huge amount of demand but there is very little stock,” he said.

“Properties are selling as soon as they are listed or even before they go to market as we have buyers ready.”

Mr Gordon said homeowners wanting to retain their privacy while selling a property can take advantage of the current sellers market.

He said buyers should let agents know the kind of property they wish to buy so they can hear if any become available.

This way they can hear about them before they are officially listed, he said.

“Once a homeowner signs the contract we can pretty much put a deal together right away,” he said.

“We have quite a few people listed with us who are looking to buy a home and it means owners can sell their property quickly.”

10 homes on the market under $430,000*

1. 118/61 Caniaba Rd, Loftville $130,000

2. 130/61 Caniaba Rd, Loftville $149,000

3. 14/924A Blue Knob Rd, Blue Knob $195,000

4. 24 Carlton Ave, Goonellabah, $265,000 – $285,000

5. 127 Bridge St, Coraki, $295,000-$315,000

6. 16 Minto St, Coraki, $320,000 – $350,000

7. 3/519 Ballina Rd, Goonellabah $335,000

8. 35 Terania St, North Lismore, $310,000 – $340,000

9. 10 Clarice St, Lismore $350,000 – $380,000

10. 147 Dawson St, Girards Hill, $426,000

*Source: RealEstate.com.au