Buyer demand fuels surge in speedy sales
Pent up buyer demand and a shrinking property pool is fuelling a surge in speedy sales across Port Douglas, with some hungry home-hunters going to great lengths not to miss out, says LJ Hooker’s Managing Director/Licensee, Michael Samson.
The most recent data from realestate.com.au has revealed a search for Queensland properties on line is up a remarkable 45% on the same time last year. The number of enquiries is 31% higher than a year ago.
And this is despite the challenges posed by COVID-19.
And according to Samson, Port Douglas has a great opportunity to shine in 2021.
“We are known as a safe, tropical haven with tourists chasing the sun and either to relax or enjoy an adventure. Developers have sensed the opportunity with many projects earmarked for construction in 2021.
“Low interest rates combined with the fact that people simply want to be in North Queensland means that our market will continue to strengthen,” he says.
Samson said he believes that COVID-19 has meant that people are accessing their life’s choices of where they want to be, and living in the Douglas Shire is an attractive proposition.
“We have interstate buyers who missed out on a purchase and are now waiting for their next opportunity.
“Locals who have been renting for many years now have the opportunity to purchase. Low interest rates mean that it is possible to purchase cheaper than it is to pay weekly rent for many people.
“There are opportunities throughout the whole shire, whether in business or in securing a property.
“If you have ever considered purchasing your own home or an investment property then perhaps 2021 is the year to act,” says Samson.
In reviewing the past 12 months, Samson says the local market has changed since the beginning of the year.
“Video tours and facetime inspections are the new normal. There are increased numbers of properties being purchased without buyers personally inspecting.
“There are high numbers of inquiries for new properties for sale. There have also been increased “off market sales” where buyers have jumped in prior to the property getting advertised to secure the purchase.”
Residential property sales started the year extremely strong, says Samson.
“This seems such a long time ago when comparing with the rest of the year.
“January and February were very good months with good numbers of sales across the board.”
This is how Samson viewed the rest of the year:
March/April: It is traditionally slow and was even more affected by the COVID 19-Pandemic outbreak and lockdown. Port Douglas was largely affected all over town and the real estate market suffered well before the southern states.
May/June: Buyer inquiry levels increased greatly. Many potential buyers were stuck interstate with the real estate web sites doing huge traffic.
July/Present: Confidence in North Queensland is high. There were large volumes of sales among all property markets locally. Vacant land is popular for people looking to build as are lifestyle homes and acreage properties. There is still high inquiry from interstate and people looking to invest locally.
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