Spring brings new life
SPRING has sprung and the Emerald property market is set to receive a welcome boost.
LJ Hooker real estate principal Brenda Logovik said spring was definitely the busiest time of year for the real estate market.
"The market steps back up after winter. This is due the change in temperatures as well as tax return adding to buyers cash flows,” Mrs Logovik said.
"People also move around at this time of year so they are always looking to buy,” she said.
Ray White Emerald co-owner Mark Muldrew also said spring definitely generated an upturn in the market.
However, not everyine agreed.
Emerald Real Estate principal and autcioneer Jason Campbell said spring did not change market conditions a great deal.
"Obviously people get outside and enjoy the warmer weather and lifestyle which may increase buyers but not to a great extent,” Mr Campbell said.
Opinions may differ about the selling season. but Mrs Logovik said there was no doubt it was a good time to be a buyer in Emerald.
"We are finding that buying confidence is returning. The lower end of the market, properties in the $200,000 to $300,000 range, are doing well,” she said.
RP Data shows the average price for a house in Emerald is listed at $140,000, compared to $112,000 in Capella and $87, 500 in Blackwater.
Lower prices influence the number of houses on the market, with 244 houses on the market in Emerald, 150 in Blackwater and 26 in Capella.
Mr Muldrew said spring presented a great opportunity for first-time buyers.
"With the current low interest rates and well- priced properties, we are seeing a lot more buying activity in the area,” he said.
"It's a great time to be buying. The conditions mean there are many first-home buyers and owner occupiers on the market, people who want a house long term.”
It was a trend that could be seen throughout the area, Mr Campbell said.
"Although buyers aren't knocking down the doors, the property market is definitely still moving,”
"What is being sold is showing exceptional value to the buyer. It's allowing people into the market that previously couldn't afford it.”
Mrs Logovik said these buyers were generally young families and were bringing new life to the area.
"There's a change of dynamic in the community. For the first time in a while the town is busier and more community events are happening. It's lovely to see the town flourish,” she said.
However, to sell may take longer than expected with time on the market in Emerald, Blackwater and Capella ranging from a month to a few years.
Mr Muldrew said the key to selling a property in the current market in the region was to price your property properly.
"It comes down to the vendors: obviously if the property is priced well it will sell,” he said.