$10m buying spree by keen home hunters

HOMEBUYERS went on an unprecedented $10 million bargain hunters’ spending spree at the Territory’s biggest auction in Darwin yesterday.

Of the 46 properties at auction by Real Estate Central 19 were sold and a further eight are under negotiation.

Almost 80 registered bidders, among a crowd of 220, jockeyed to get the properties they wanted.

Real Estate Central sales professional Andrew Lambert said the auction and extraordinarily large turn out, was a reflection of the market.

Mr Lambert said the day matched expectations with the conference room at the Mercure Darwin Airport resort reduced to standing room only.

“It was a great outcome and we were absolutely delighted with the day,” he said.

“There were a lot of happy buyers and sellers as a result of the auction.”

Properties sold on the day varied from as low as $220,000 to $1.7 million.

“The auction showed that there are plenty of buyers in the market,” Mr Lambert said.

“We had 78 registered bidders and of these 19 successfully got what they wanted and eight more are negotiating so those that were not successful will still be looking to buy.

“People are definitely looking for bargains because the property market is at a point where they realise it is too good not to get into.

“Statistically the increase in the level of demand on the buyers side is huge.

“Buyers have definitely realised that prices are low and interest rates are at a historic low.

“This is the time to buy. You need to buy now.

“That’s why Real estate Central put the whole event on because there is no better time than now to get into the home ownership market.

“Today’s turn out proved that without doubt.

“We had a lot of eager buyers.

“Seventy eight registered bidders vying for 46 properties is a pretty good indication of buyer interest and a reflection of the desire to buy right now.”