Is it a seller’s market?

We take a look at the current property market within the Zilzie area.

By Sean Fox

Zilzie residents would’ve noticed the housing development increase within the Zilzie Bay Estate in recent months.

But it seems not only are people acquiring property in the coastal community, they are selling up as well.

As of April 1, 95 properties had been sold there in a 12-month period, with the median sale price of $355,000 and a median rent of $350 per week, according to Property Value by CoreLogic.

With an average of 111 days for a property in the coastal town to sit on the market, there are currently 35 homes for sale in the area – which begs the question; is it a seller’s market?

Meanwhile, the lowest sold house price throughout Monaco Drive in the housing estate in the past 12 months was $105,000.

According to landchecker.com.au, the population of Zilzie sits at 2713, with the average age of occupancy being 36 and 52 per cent of residents made up of full-time workers.

The greatest age distribution in the area is for the age group of between 5 and 14 which amounts to 446 people.