Homes still in demand
Still plenty of buyers in the market
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’.”
CHANGING FACES: Derek Qualischefski and Allison Graham, from Gatton Real Estate, say buyer demographics in the Lockyer Valley are changing.