2009 is a year that will go down in history for many reasons including talk of global recession, the election of the first African American President Barack Obama and the lowest interest rates in 40 years.

This year may also go down in history as the time of lost opportunity for those who are pondering about whether to invest in property as first home buyers, or investors looking to extend their investment portfolio.

Statistics show that potential home buyers and sellers throughout the Mid West should remain confident in that our market has remained stable during a period of worldwide economic change. Last year there were 463 sales in Geraldton/Greenough for the year including houses and land, an average of 38 sales per month.

Year to date, we have continued to achieve an average of 38 sales per month including houses, units and land. Beachlands, Beresford, Bluff Point, Drummond Cove, Rangeway, Wandina and Wonthella are appearing to be preferable to home buyers with Mt Tarcoola recording the highest number of settled sales at 6.

The overall average sale price is $381,893.

Peta McKenzie, REIWA Geraldton branch president said that the level of buyer enquiry is strong.

“Homes priced between $250,000 and $400,000 are selling relatively quickly to a combination of first home buyers taking advantage of the government grant and investors,” she said.

The highest sale recorded for the year to date is $860,000 in Mt Tarcoola with a close second in Drummond Cove for $820,000.

The announcement of Oakajee in Geraldton and Gindalbie in Morawa have been publicised Australia wide so there are a lot of eyes looking at what Geraldton and the Mid West have on offer.

“Investors are taking advantage of purchasing a property in a region which is receiving a large amount of Government expenditure in implementing world class infrastructure.

I believe that the local property market will remain strong, with no signs of decreased prices on the way - investing in real estate is still as safe as houses”. Ms McKenzie said.