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Housing market prospects rise

The property for sale by PRDnationwide Ballina/Lennox Head at 85-89 Richmond Terrace, Coraki. Built in the late 1800s it was the first bank in Coraki and had a manager’s residence attached. It is one of 19 properties to be auctioned on Saturday.
The property for sale by PRDnationwide Ballina/Lennox Head at 85-89 Richmond Terrace, Coraki. Built in the late 1800s it was the first bank in Coraki and had a manager’s residence attached. It is one of 19 properties to be auctioned on Saturday.

A HERITAGE-LISTED house overlooking the Richmond River at Coraki is one of 19 properties to be auctioned by PRDnationwide Ballina/Lennox Head on Saturday.

Sales consultant Brett Jones said about 150 people had looked through most of the homes during open houses on previous weekends, and that sale prospects had been boosted by this weeks ‘good news’ on interest rates.

Mr Jones said people had generally been a lot more confident in recent weeks, showing greater decisiveness whether buying or selling.

New Year was historically a good time for the real estate market, he said, but 2010 was ‘a 500 per cent improvement’ on the same period last year, when the market had been gripped by financial crisis jitters.

Auctions had also come a long way in the past 12 months since PRDnationwide had introduced its buyers’ guide, Mr Jones said.

The guide gives a price indication which shows where a property is situated in the market.

It had made auctions ‘completely transparent’ and much more buyer-friendly, Mr Jones said.

The historical home being auctioned sits somewhere near the top end of the Coraki market, with a possible price about $550,000.

Built in the late 1800s it was the first bank in Coraki and had a manager’s residence attached.

Despite its age, the house has retained its original fixtures and fittings throughout and is in good order.

Another attractive property in the auction includes a rural property at Bora Ridge near Coraki that has a 6.1km river frontage.

The Housing Industry Association this week reported a hike in new house sales in NSW in December of 4.9 per cent on the previous month.

Queensland had an increase of 2.4pc. Nationally new home sales were down 4.6pc.



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