Clarence Valley property sale data shows best value suburbs to buy

Grafton, South Grafton, Yamba, Maclean and Glenreagh are all experiencing increasing property value. See the latest data to find the suburbs with best value for money.

The latest CoreLogic property data shows you can still grab a bargain and make a tidy profit when buying a house in and around the Clarence Valley.

According to real estate agent Allison Whaites, the definition of a bargain is currently anything under $400,000.

Comparing the data in Grafton, South Grafton, Yamba, Maclean and Glenreagh reveals there is currently only one place with a median price well under that figure.

And it is South Grafton where the median property price is at $315,000.

Combined with an annual growth rate of 8.25 per cent to October 2021, it’s looking like the sweet spot for house flippers to invest or for first home buyers to get into the property market.

“More people are favouring South Grafton and Grafton homes currently as they are starting to see the market shifting and realising they may be left out of the market if they take too long to purchase,” Ms Whaites said.

She noted a Spring Street property in South Grafton that underwent a facelift to yield a 315 per cent increase.

She said it was bought in 2017 for $105,000 and sold in 2021 for a street record of $435,000.

Grafton’s median house value rise over the year to October 2021 was at 17.82 per cent.

It performed better than the Clarence Valley overall, which had a rise of 11.78 per cent.

Median house prices in towns around the Clarence Valley are skyrocketing even more with overall property rise leaders sitting just outside Grafton.

Yamba tops the area in property price increases with a whopping 36.06 per cent rise over the past year to October 2021.

It was closely followed by Maclean which also experienced a massive rise in property prices at 30.3 per cent.

According to figures from CoreLogic, the median house price in Yamba is at $815,000 and Maclean is at $522,500.

Auctioneer Jay Gibson, Sarah Cochrane, Alex Whaites, Julian Bryant, Allison Whaites and Sara Black celebrate an outstanding auction result in Tucabia after selling a property for $50,000 over the reserve.

But Ms Whaites said the rises weren’t limited to the larger, more populated towns.

“We have seen sale prices in the small village of Southgate rise over 77 per cent in the past two years with the sale of 1143 Lawrence Road, Southgate selling in November 2019 for $383,000 and later being sold in December 2021 for $685,000,” Ms Whaites said.

She said she also recently sold a deceased estate in Tucabia at auction for $50,000 above the reserve with 56 bidders.