Property

Buyers going for the high when purchasing a new home

BUYING a house is a big decision whether you're spending $100,000 or $1 million, but it seems Rockhampton buyers are now confident enough to start spending the big bucks.

A recent report from Herron Todd White has shown properties over $600,000 has seen a recent burst in activity, even though the levels of value are the same.

Herron Todd White valuer Cara Pincombe, who is based in Rockhampton, said they had seen a flurry of activity in the top end of the market in the past three to six months.

"The top end of the Rocky market has always been pretty small," she said.

"Prices haven't increased, there just seems to be a bit more activity.

"Maybe people are just comfortable with the market and are looking to upgrade while interest rates are low."

Miss Pincombe said this year there had been seven sales on the south side over $600,000, mostly on The Range, and eight on the north side, mostly in Norman Gardens.

In terms of retail, the report also acknowledged the increase in vacancies in retail space in the CBD and inner north areas.

Herron Todd White director Graham Gross said that he was not expecting to change in the immediate future.

But he said that provided a great opportunity for owner-occupiers to acquire properties in the market, with low interest rates.

However, the report clarified that larger retail centres appeared to be performing well.

Topics:  herron todd white, housing, real estate




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