Auction sales surge thanks to high attendances
BUNDABERG’S property auctions have surged in the past year with sales, attendances and bidder registrations up on what they were last year.
Ray White Bundaberg City selling principal and office manager Warren Hitzke said so far in 2019 they have seen a 99.8 per cent success rate out of 22 auctions held this year.
Mr Hitzke said there had been people of all age groups investing in the area from interstate.
“The clearance is up on last year, there’s a lot more selling under the hammer,” he said.
“Auctions give the buyer the chance to bid at their price and with what they feel the property is worth and it also gives the vendor the opportunity to put it in competition with other bidders because every buyer has a different opinion on price.
He said one of the auctions held last weekend saw about 30 people in attendance.
Mr Hitzke (pictured) said buyers were seeing good value in the Bundaberg region.
“Out of town buyers are seeing excellent value, they’re buying a nice family home from the high $200,000s to high $300,000s,” he said.
“I think it would be common across the board that agencies are seeing an increase in buyer activity and investors.
“Low interest rates, affordable prices and premium rent returns are attracting investors back into our market.”
He said it was exciting to see the market picking up again.
“We’ve been in a down market for a long time and there’s nothing I love better than getting a positive result for the vendor,” he said.
“We’ve been so used to telling clients the market is down and don’t sell unless you have to because the prices haven’t been there.
“There is now positivity in the market, we encourage anyone to come and see us.”
Mr Hitzke shared his thoughts on how the auction market would fare in 2020.
“I think it will be very strong, if not better,” he said.
“With the change in market, the volume in buyers and increased prices I think we’ll see more and more auctions come into play.”