Capricorn Coast property market on fire
THE PROPERTY market on the Capricorn Coast is on fire with listings being sold within days of hitting the market and no sign of a slowdown.
Yeppoon Real Estate sales specialist Nicola Barlow said she has never seen such unprecedented activity across all price ranges from $350,000 to $850,000.
"This is definitely the right time to be listing your home for sale with buyers coming from out west, down south and from the local market," Nicola said.
"The market had already been going well over the past 12 months and when the COVID-19 pandemic hit everything stalled for about a week before interest escalated and has continued throughout this difficult time.
"Many of our properties are going under contract within a week of being listed.
"One such property was at 84 Claytons Rd which was listed in the second week of COVID-19 restrictions. After seven inspections and 23 email inquiries, the property was under contract for $790,000 in just three days and will settle in two weeks.
"Another example was 10 Adelaide St in Yeppoon situated to capture extensive sea views right in the heart of town which sold to two Sydney brothers for $465,000 and will make the perfect site for future development.
"We have sold or have under contract many homes in the $700,000 to $850,000 price range as well as huge interest in properties around the $350,000 mark which are all going under contract very quickly."
Nicola said the staff at Yeppoon Real Estate have changed the way they operate with open inspections now spaced at half-hour intervals with only one party going through the home at a time.
"We now offer walk through video viewings online so people can get a true feeling for the layout of the home as well as video appraisals," she said.
"This is something we will definitely continue with in the future as it is a much better experience than with photos alone for remote buyers."
Principal Claudia Coren said while sales inquiries and contracts have been coming thick and fast and prices holding strong, the rental market had also seen an influx of activity.
"Our rental vacancies are currently at 1 per cent which is fabulous news for our investment properties," Claudia said.
"We have many people seeking rentals and multiple people lined up to view rental properties as they become available.
"If people are considering the purchase of an investment property, there has never been a better time than right now."