Buyer activity ramps up with less stock on the market in Townsville

first_img READ MORE More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Bayside Realty Townsville principal Mario Torrisi who sold the property said it attracted plenty of interest from prospective buyers at its first open house. “The buyers put in an unconditional offer well before auction and the sellers were more than happy to accept it,” Mr Torrisi said. “The whole market is picking up, I’m seeing a lot more interest at open homes than there was three months ago.”Mr Torrisi also said he was seeing owners holding off on selling if their circumstances allowed it. Flood victims finally return home Principal at Bayside Realty Townsville, Mario Torrisi.“Buyers are back in a big way, but they need to act quickly before prices start increasing in Spring,” Ms Conisbee said. “Buyers have an opportunity to capitalise on the bottom of the market and sellers can name their price while stock levels remain low. “Markets often change direction quickly and price growth can become unexpectedly strong with in a very short period of time.”A 77 acre property at 140 Barnham Rd in Townsville’s Nome has been snapped up prior to auction after being on the market for only a week. Where tenants are ditiching dead money for a mortgage center_img “There are some sellers holding off who are expecting the market to pick up,” he said.“Some people obviously don’t have the choice to do that though.”REIQ regional director and principal at Keyes and Co Realty, Damien Keyes, agreed stock had been low and was also seeing an increase in activity at open homes. “There’s been less stock across the board in Townsville over the March quarter so we’re noticing buyers are a lot more active,” Mr Keyes said. “Our office is finding that we’re selling 90 per cent of the homes we have listed pretty quickly and there has been more activity at open homes. Real Estate agent, Damien Keyes on The Strand, Townsville. Spring is the busiest period for buying and selling real estate in Townsville.“I think we will start to see more stock on the market over the September and October period which is usually the time things ramp up.”Mr Torrisi said the property which sold in Nome was unique in that it offered buyers two residences and the opportunity to earn an income. “It’s great for extended families or the buyer could live in one house and rent the other one out,” Mr Torrisi said. “There’s also the opportunity to make an income with the mango orchards and cattle yards on the property.”There were seven bedrooms in total on the property at 140 Barnham Rd, along with a huge shed boasting enough space to house 12 vehicals. The unique residence also featured a seasonal creek and was located close to the Elliot Springs development. This property at 140 Barnham Rd in Nome was snapped up before auction after being on the market for one week.PROPERTY in Townsville is proving a hot commodity with houses being snapped up fast and owners reportedly holding off on selling. With the expectation that property prices in Townsville will soon rise agents are reporting less stock than usual being offered to the market. Chief economist at realestate.com.au Nerida Conisbee said buyers and sellers should capitalise on the current market conditions. READ MORE Iconic Rollingstone Ranch snapped up last_img

Leave a Comment