Townsville’s property market is tipped to charge right up until Christmas, as demand continues to increase.
Agents report strong interest in listings, with multiple offers on some properties and buyers trying to secure homes before they go to auction.
Julie Munro of Ray White Townsville has a five-bedroom home at 4 Haughton Street, Mundingburra, scheduled to go to auction on December 5, which has already attracted strong buyer interest.
4 Haughton Street, Mundingburra, is already getting plenty of interest in the lead-up to its auction on December 5
Ms Munro said the Townsville property market was extremely busy at the moment and she expected that would not slow down over Christmas.
“There is a shortage of stock, and money is so affordable at the moment (with low interest rates),” she said. “People are taking the opportunity to upsize and downsize while interest rates are so low.”
Ms Munro said the turnover of renters had dropped substantially in recent months, which she thought was also leading to more people buying properties.
Keyes & Co Property has six properties scheduled for auction on November 23, including a four-bedroom house at 29 Sheerwater Parade, Douglas.
29 Sheerwater Parade, Douglas
Damien Keyes said activity was very strong in Townsville at the moment.
“Certainly, the number of buyers coming through the homes each week is picking up,” he said.
As well as the November auctions, Mr Keyes said they had already locked in a number of auctions for December.
“We are definitely seeing activity across all of our auctions, and private treaty sales, there are multiple offers on each property,” he said.
A couple of homes listed for the November 23 auction have already attracted very strong interest.
“I think the biggest market to switch on in the past few months has been the $500,000 to $1 million and just over market, a lot of those homes are starting to sell again,” Mr Keyes said.
Tammy Tyrell of Harcourts Kingsberry – Townsville has a four-bedroom home at 18 Vanessa Court, Alice River going to auction on November 28.
18 Vanessa Court, Alice River is going to auction on November 28.
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“We are seeing an increase in properties now that are marketing as an auction campaign,” she said. “Both sellers and buyers are warming to the process. With the shift in our market I believe auctions will become more popular.”
Ms Tyrell has noticed the number of registered bidders has also increased in recent months.
“People are really educating and preparing themselves to be in the position to bid at auction, particularly first home buyers,” she said.
A home at 86 Francis Street, West End, which was scheduled to go to auction through Ray White’s Julie Mahoney, has already sold.
Ms Mahoney also has a five-bedroom house with water views set for auction on November 23.
44 Victoria Street, Townsville City, goes under the hammer on November 23
44 Victoria Street, Townsville City
***For more, check out the Realestate guide, out every week in Saturday’s Townsville Bulletin.
