All About Garoo, Tamworth Regional, NSW, 2340

Garoo Real Estate Market Outlook

Thinking about buying in Garoo? Now could not be a better time, with just 86 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $2,773,000 with prices in this suburb ranging from $648,000 to $11,764,000. The aproximate distance to the coast is 153 Km.

In Garoo there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Garoo is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. A mix of professions and above average income earners in Garoo provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Garoo to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Lower than average industry presence in Garoo we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Garoo a better buying opportunity than it may have been in the past.

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