Bidding is good sign for Fraser Coast property market
POSITIVE signs for the Fraser Coast property market are showing if the remarkable turnout at one recent auction is any guide.
Average numbers at auctions during the slower periods experienced in the past few years would be six to eight people and sometimes as few as none, says Chris Cooper sales executive and auctioneer Alex Porteous.
Not so on Saturday when the sale of a Point Vernon home attracted 58 people, including a handful of bidders who made offers.
Mr Porteous put interest in the Mant St home down to a return of buyer confidence and, of course, the fact it was an attractive property.
"It was certainly the busiest auction I've had in five years; I've held quite a few auctions and I've never seen so many people at an auction. We've got a feeling the market is turning, there's no question.
"The house was on a cliff top overlooking the Bay and it just attracted the buyers. We had four bidders, didn't reach reserve, but we're still negotiating with the top two and we believe we'll sell it."
Real Estate Institute of Queensland Fraser Coast region chair Linda Bland, from Century 21, said the market had been improving slowly since the year's beginning.
"Certainly we have seen that there are a lot more buyers around at the moment," Ms Bland said.
"I think we're recognising that buyers are sensing it is a good time to buy, property prices are probably starting to go up and with the interest rate environment it is a good time to buy.