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As more buyers seek affordable options outside the capital cities, an agent has told REB how the resulting surge in demand has been reshaping his local market.
Griffith-born and raised, Joseph Poli has spent nearly a decade in the town’s real estate market, knowing every street, suburb, and property trend like the back of his hand.
The agent, who discovered his passion for real estate after a year 10 work experience, said the property market in Griffith has kept his job interesting every day.
According to Poli, over the last decade, the market has gone through several ups and downs, but the increase in demand from both owner-occupiers and investors has put the regional town on the map.
“A lot of people in the market are realising that real estate is the way to go, especially younger people,” Poli told REB.
Recent PropTrack data has ranked Griffith 13th in the nation for 12-month demand growth for regional properties between $500,000 and $600,000, with interest in the area almost doubling to 94 per cent.
With Griffith’s median house price of $600,000 sitting well below the $750,000 regional cap for the government’s 5% Deposit Scheme, Poli said that the market was primed for first home buyers.
“That first home buyer or entry-level property is the most in-demand price bracket in the market.”
He said that the first home buyer market in Griffith largely consisted of local buyers, with newcomers in the area favouring rental properties, before eventually settling and buying a property.
Poli added that despite Griffith’s median climbing from $390,000 over five years, strong buyer demand remained, forcing regional agents to be meticulous to ensure no genuine buyers are missed.
“In terms of pricing, it is not an easy market to get into; you would have to be very lucky to get something with a three in front of it, sometimes even a four nowadays.”
“It can be challenging to negotiate the right price, but also keep everyone happy and do it transparently within the market.”
“It’s just about getting back to them in whatever method that works for them, and giving everybody the same opportunity to put in their best offer.”
Poli said that regional agents should ensure they surround themselves with a quality team to support them through the process and foster strong relationships with all parties involved.
“We care about our clients, not just our sellers, but buyers too, because at the end of the day, buyers will become sellers one day.”
“I want it to be a stress-free experience with the least disruption to their lifestyle as possible.”
Investors on the rise
According to Poli, the upper end of the market has also seen a surge in interest, with houses ranging between $900,000 and $1.5 million representing a “niche market” in the area.
“There are a lot of premium properties for sale, because not everyone can afford to come up to a $900,000 house,” he said.
While entry-level and higher-end properties have proven popular in the area, Poli said the town's middle market has struggled.
He added that buyers looking at mid-range properties either had to commit to an expensive renovation project or increase their budget.
“You might have to buy something at $550,000 and spend $100,000 on it to get it up to scratch, or you have to buy something at the $700,000 to $750,000 price range to live in straight away.”
“It’s a very challenging part of the market.”
While there are always locals looking to expand their portfolios, Poli noted that he has seen an increase in out-of-town investors coming into the market, driven by capital growth and high rental yields.
“Most investors are seeking a good ROI, so the cheaper properties are moving very quickly, even if there is work to be done to the home,” he said.
“Most interstate or out-of-town investors seek free-standing brick veneer homes with a minimum of three bedrooms.”
When looking to buy in an unfamiliar market, Poli said investors should research the agents they are dealing with and ensure they understand the area.
“If I were looking at buying a property, I’d go for a local agent who knows the community and the area over someone new to the game every time,” he concluded.
ABOUT THE AUTHOR
Mathew Williams
Born in the rural town of Griffith NSW, Mathew Williams is a graduate journalist who has always had a passion for storytelling. Having graduated from the University of Canberra with a Bachelor of Sports Media in 2023, Mathew recently made the move to Sydney from Canberra to pursue a career in journalism and has joined the Momentum Media team, writing for their real estate brands. Outside of journalism, Mathew is an avid fan of all things sports and regularly attends sporting events across Sydney. Get in touch at
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