Homes still in de­mand

Still plenty of buy­ers in the mar­ket

Gatton Star - - NEWS - Do­minic El­some do­minic.el­some@gat­ton­star.com.au

REAL es­tate agents are re­port­ing that de­mo­graph­ics of home buy­ers in the Lock­yer Val­ley and Som­er­set re­gions are chang­ing.

Gat­ton Real Es­tate sales­per­son Al­li­son Gra­ham said in­vestors were no longer buy­ing to the ex­tent they once did.

“Buyer de­mand is good for owner oc­cu­piers but the in­vestor mar­ket has slowed,” Ms Gra­ham said.

She said banks tight­en­ing lend­ing re­quire­ments had seen many in­vestors leave.

“It was sort of 40 to 50 per cent in­vestors for Gat­ton a year ago, it’s now prob­a­bly closer to 80/20 owner oc­cu­piers dom­i­nat­ing that mar­ket,” she ex­plained.

Ray White Ru­ral Esk/too­goolawah prin­ci­pal Wayne Jaenke said it was a sim­i­lar case in the Som­er­set re­gion.

“We used to see a lot of in­vestors go­ing back a num­ber of years but it’s got to be a re­ally good propo­si­tion for them these days to jump on board,” Mr Jaenke said.

He said while the face of buy­ers in the re­gion may have changed, the mar­ket was by no means stalling, with plenty of buyer ac­tiv­ity.

“There’s been a lot of buyer ac­tiv­ity – more in­ter­est, more in­spec­tions, and hence more of­fers and ob­vi­ously more sales,” he said.

Ms Gra­ham said the po­ten­tial for in­ter­est rate rises hadn’t seemed to faze buy­ers.

“If any thing the in­ter­est rate hype about rises has mo­ti­vated them to buy,” she said.

“Par­tic­u­larly first home buy­ers – (they’re think­ing) ‘let’s get in and lock those fees in at 3.99 per cent’.”

PHOTO: DO­MINIC EL­SOME

CHANG­ING FACES: Derek Qualis­chef­ski and Al­li­son Gra­ham, from Gat­ton Real Es­tate, say buyer de­mo­graph­ics in the Lock­yer Val­ley are chang­ing.

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