BALLINA BUYS: Auctioneer Paul Cavanagh takes potential buyers through the market at the Elders Auction in Ballina on Saturday.
BALLINA BUYS: Auctioneer Paul Cavanagh takes potential buyers through the market at the Elders Auction in Ballina on Saturday.

Slow day at market

By DAWN COHEN

TEN out of the 12 properties auctioned by Elders in Ballina on Saturday morning were passed in.

Negotiations on Saturday after the auctions resulted in two further sales.

Discussions are continuing on a 6ha macadamia farm in McLeans Ridges, with the fourbedroom home passed in at $425,000.

A crowd of over 100, including 21 registered bidders, heard auctioneer Paul Cavanagh note that the election process had not dampened the market.

But few were bidding.

An exception was an entrylevel three-bedroom brick house at 53 Riverview Avenue, Ballina, owned by State Emergency Service worker, Gary Legge.

Bidding inched up in $1000 increments to a price of $247,000, well above reserve.

A disappointed Jasmine Curtis, of Ballina, had hoped it would sell for $230,000.

But house-hunter Michelle Tucker thought it was excellent value.

"That is how much units cost," said the 47-yearold.

"We sold our farm in Tregeagle 10 per cent cheaper than we expected.

"The market has definitely dropped."

A medium density site at Redford Drive, Skennars Head, sold at reserve for $1.25 million.

Troy MacRae, from Elders Alstonville, said purchasers were still feeling the market out.



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