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Forbes suburb profile

Forbes is a charming rural town located in the Central West region of New South Wales, known for its rich history and vibrant community spirit. Nestled along the banks of the Lachlan River, Forbes offers a picturesque setting with heritage-listed buildings and beautiful parks. The town is renowned for its annual events, such as the Forbes Camel Races and the Kalari-Lachlan River Arts Festival, which draw visitors from across the region. With a strong agricultural base, Forbes supports a thriving local economy and offers a relaxed lifestyle, making it an appealing destination for families and retirees seeking a close-knit community.

Forbes property market performance

Forbes’ property market has shown modest growth over the past 12 months, with house values increasing by 5.4%, bringing the median house price to $500,000. The unit market remains stagnant, with no change in median value and minimal sales activity, as only one unit was sold in the past year.

Sales activity for houses has been moderate, with 33 houses sold over the last 12 months. However, houses are taking longer to sell, with a median of 87 days on the market, indicating a slower pace in buyer decision-making.

The rental market in Forbes has remained stable over the last 12 months, with no change in average rent prices for both houses and units, which are $430 and $300, respectively.

HousesUnits
Median price
Past 3 months
$494KN/A
Change in value
Past 12 months
6.9%N/A
Sold
Past 3 months
423
Median days on market
Past 12 months
87N/A
Average rent
Past 12 months
$430$320
Change in rent
Past 12 months
1.2%3.2%

5 year median price trend for houses and units

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Forbes demographics

Forbes, located in the heart of New South Wales, is a charming rural town known for its rich history and strong sense of community. With a population of 8,157, Forbes offers a peaceful lifestyle away from the hustle and bustle of city life. The median age of 42 suggests a mature community, with many families and long-term residents enjoying the town's relaxed atmosphere and close-knit community feel.

The town's housing market reflects a stable and established community, with 39% of properties owned outright and 31.6% owned with a mortgage. This indicates a strong sense of homeownership and investment in the local area. Renting is less common, with 29.4% of properties being rented, which may appeal to those seeking more permanent roots in the community.

Family life is central to Forbes, with couple families with children making up 33.9% of the population, and couple families without children accounting for 45.5%. One-parent families represent 19.1%, highlighting the town's family-friendly environment. The median total household income of $1,221 per week reflects the town's affordability, making it an attractive option for families and retirees looking for a cost-effective lifestyle.

Forbes is a town that values its heritage and community spirit, offering residents a tranquil lifestyle with the benefits of a supportive and welcoming community. Its combination of affordable living, strong homeownership, and family-oriented environment makes it a desirable place for those seeking a balanced and fulfilling rural lifestyle.

Suburbs near Forbes

Some popular suburbs near Forbes include:

  • Parkes: Known for its iconic radio telescope and annual Elvis Festival, Parkes is located northeast of Forbes.
  • Eugowra: A charming rural town with a rich gold mining history, Eugowra is situated to the east of Forbes.
  • Bogan Gate: A small village known for its railway history, Bogan Gate lies to the west of Forbes.
  • Gooloogong: Offering a peaceful rural lifestyle with scenic landscapes, Gooloogong is located southeast of Forbes.
  • Grenfell: Famous for its heritage buildings and the birthplace of Henry Lawson, Grenfell is situated to the south of Forbes.

How does Forbes compare to nearby suburbs?

  • Median house prices: Forbes’s median house price is 1.9% higher than Parkes’s.
  • House price growth: Over the past 12 months, house prices in Forbes have grown 3.9% higher than in Parkes.
  • Selling speed for houses: Properties in Forbes are selling 28.1% faster than in Eugowra.

Choose the right real estate agents in Forbes

Choosing the right real estate agent in Forbes can have a big impact on your sale. While there are 21 real estate agents working in the suburb, but just 5 of them were responsible for 85.8% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2% to 3.25%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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