Auction bids slide as buyers relax
By HANNAH ROSS
THE fast and furious bidding of recent years may not have been in evidence at Saturday's property auction in Ballina, but Elders Real Estate still hailed the proceedings a success.
Three out of the 11 properties listed were sold under the hammer on the day, with a further three selling after the auction, and negotiations continuing on another two.
Elders director, Glenn Mills, said prices for properties in the Ballina region had stabilised.
"In my opinion, now is the time to buy," Mr Mills said.
He said many buyers were currently negotiating sales after auction, because competition was not so strong and buyers felt they had 'time on their side'.
Properties up for sale at the auction ranged from cheap and cheerful flats, to a house with its own jetty and expansive views across the Richmond River.
Despite a scarcity of bids, interest remained strong in the real estate game, with over 100 people turning up to the auction in the Richmond Room.
To give our readers an accurate gauge of current trends in our region's real estate market, The Northern Star will follow up featured auctions with information on properties sold after auction.
For more information on Saturday's Elders auction, see Wednesday's Northern Star.