Last week was whirlwind week here, with significantly increased buyer activity some properties are being snapped up before the first open home! For example, we sold a property in Buderim Avenue before the first advertisement was due to run; a luxury unit in Alexandra Headland was re-listed on Thursday, sold by Tuesday with multiple offers meaning the vendor secured full list price; and a home in Candlewood Close, Mooloolaba was sold before the first open home.
The auction at 15 Kimberly Court in Buderim on Saturday drew a crowd of up to 200 and had 8 registered bidders. In an electrifying environment bidding kicked off at $850K and moved quickly north of $1M, finally selling under the hammer for $1.15M to a local family.
Even though the Reserve Bank left interest rates unchanged this month, some financial institutions have released fantastic fixed interest deals for a limited time, as low as 4.99% for two years. This could very well be a great time to add another property to your portfolio if you have the available equity (or cash) to invest. You might find that an investment property would be close to neutral or positively geared with a rate this low! You can talk to our finance brokers at AW Money to find out more about which institutions are offering this rate and how it could benefit you.
A combination of interest rates at the lowest they have been for several years and property prices more affordable than in previous years, the platform has been set for an acceleration in demand, which will ultimately lead to increase in prices. It’s certainly evident, that NOW is an extremely opportune time to buy…the realisation has hit and the market is alive.