Property market starts recovery
OPTIMISM appears to be slowly returning to the Grafton real estate market, with local agents reporting strong property sales, particularly at auction.
Steve McKimm of McKimm’s Real Estate Grafton said an auction held on Wednesday night saw strong bidding for a number of properties, particularly one on Lillypool Rd, South Grafton, which ended up fetching $389,000 – $24,000 more than the advertised price indicator of $365,000.
This and reports of similar successful auctions from other agents indicated a market gradually returning to business as usual after a slow start to the year, according to Mr McKimm.
“I’ve spoken to Bailey and Gough and LJ Hooker recently and they both say they’re going okay too. I think we were all a bit quiet in January with the floods etc so things are going along alright now,” Mr McKimm said.
“So this might be a bit of a catch up from that quiet January period. People still have to buy themselves houses I suppose and after having a quiet period, it’s good to have a bit of optimism again.”
Mr McKimm said steady interest rates were likely to be a contributing factor in the current rise in activity.
“I do think the banks are starting to get a bit more co-operative too. They have been very cautious and that’s probably held things up a bit, but if the banks are a bit more adventurous and interest rates don’t go up, that will be great news for us,” he said.