Ray White PD enjoys current market
RAY White Port Douglas licensee Mark Flinn says he issued seven contracts in the town in the past week, ranging from a $75,000 block of land to a $1 million apartment.
‘‘It’s been a tough five years but the evidence is in front of us,’’ Mr Flinn said.
‘‘We are running out of stock and this is the best market it has been in 11 years.
‘‘ Everyone is starting to realise prices are going up again.’’
Mr Flinn said he thought the market probably bottomed about six months ago. ‘‘We started to see multiple offers on properties and sometimes buyers missing out and getting upset.’’
In Port Douglas, stock levels for freestanding houses below $400,000 are low to non-existent, establishing now a new base price in the town. As well, he said, there seems to be a shortage of well-sited land for sale.