Northern Rivers real estate surges ahead
THE Northern Rivers' real estate market has showed no signs of slowing down, with one agency set to host more than 30 open homes today.
PRD Nationwide Ballina/Lennox Head director Brett Jones said it was the most they had ever done in one weekend.
“The houses we're opening are spread right across the Northern Rivers, from Ballina to Lennox Head and Dunoon,” he said.
“They range from $200,000 units in Alstonville to $1.2 million homes in Brooklet and Lennox.
“The reason we're doing so many is because we believe these properties are priced correctly, according to the market, and will sell.
“There has been a renewed interest across the board in property.
“Towards the end of last year there was a bit of a lull, but people are now thinking, 'new year, new house'.”
Mr Jones is urging would-be buyers to get into the market now, before prices start to skyrocket again.
“I think prices will remain steady for the next few months,” he said.
“But they will start to increase again towards the end of the year.
“So this is an opportune time to buy.”
In the meantime, it will be 'all hands on deck' for the team at PRD Nationwide Ballina/Lennox Head today.
All of the sales staff will be working, and Mr Jones said they would be 'running around madly'.
And the busy times look set to continue, with buyers showing more and more interest in the region.
“Lennox is the third-fastest growing region in Australia and it has been for a few years now,” Mr Jones said.
“Other areas that stand out for me are Alstonville, Dunoon and Evans Head, as well as places near the golf course in East Ballina.
“There has been quite a lot of land released in Ballina - some would say it's an over-supply - but it will all get picked up sooner or later and prices will increase.”
The Real Estate Institute of NSW said its figures confirmed that the Federal Government's initiatives had helped kick-start the real estate market.
The institute's president Steve Martin welcomed the strong return of first home buyers to the property market.
“We believe numbers will continue to grow over the coming months. The increase in first home buyers' grants, as well as record low interest rates, have helped many overcome economic concerns and enter the market in numbers which will only grow in future months,” he said.