Biloela agent finds real pos­i­tive in mar­ket

Central Telegraph - - NEWS -

THE Biloela real es­tate mar­ket is match­ing the mar­ket lev­els in other towns across re­gional Queens­land ac­cord­ing to Ray White Biloela prin­ci­pal Mark Simp­son.

Mr Simp­son was speak­ing at a Biloela En­ter­prises meet­ing about the re­gion’s real es­tate mar­ket and pre­dic­tions for its fu­ture.

Au­di­ence mem­bers were shown data de­tail­ing the his­tory of the re­gion’s res­i­den­tial, commercial and ru­ral prop­erty mar­ket since 2000 in­clud­ing the growth spurt trig­gered by the re­source boom from 2003-2008.

“The av­er­age price in 2000 was $94,200 and now it is $245,000,” Mr Simp­son said.

“There are sales hap­pen­ing but the mar­ket isn’t as good as it was 10 years ago but it’s not any­where.

“What is hap­pen­ing in Biloela is hap­pen­ing in other ar­eas such as Emerald, Glad­stone, Cal­liope, Roma, Chin­chilla.

“From a buyer’s point of view the mar­ket is good, there are plenty of list­ings. But from a seller’s point of view the mar­ket is slow.”

Mr Simp­son said de­spite sup­ply out­strip­ping de­mand, there were pos­i­tives for the mar­ket.

“The pos­i­tive things is ac­com­mo­da­tion is af­ford­able in Biloela,” he said.

“For peo­ple want­ing to get into the prop­erty mar­ket it is af­ford­able and en­ables them to get into it when 10 years ago they would have strug­gled.

“Ten years ago we had peo­ple sleep­ing in their cars. They couldn’t af­ford or find ac­com­mo­da­tion. So that is a pos­i­tive if you are try­ing to at­tract a work­force.”

Mr Simp­son said the mar­ket has been sta­ble since bot­tom­ing out in 2015.

“In 2016 there was a 25% in­crease in the num­ber of sales and at the mo­ment that is main­tained,” he said.

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