City housing market set to bounce back
THE Townsville housing market is expected to resume its recovery with potential buyers given the green light to attend open house inspections.
Keyes and Co. Property director Damien Keyes welcomed the decision to ease restrictions announced this week, which allows six people including the real estate agent at an inspection.
“In the last couple of weeks we’ve noticed an increase. With this relaxation buyers will return to the market in the volumes we were seeing before COVID-19,” he said.
“Townsville is definitely on the way to recovery, hopefully we return to those strong numbers we saw in January and February.
“Before these restrictions came into play the property market was racing along.”
Mr Keyes said his agency had been selling properties throughout the pandemic, with the use of 3D virtual tours.
“People use them (virtual inspections) to narrow down a short list, but it definitely can’t beat the real thing; nothing can really replace that feeling of visiting the home you’re looking to buy.”
Mr Keyes said the eased rules would bring more confidence.
“We found the cheaper price bracket of $400,000 and under didn’t really slow down at all, homes valued at prices above that did slow down,” he said.
“In the December quarter the median house price rose by 1.9 per cent, and that was after we got through the floods, we started to come out the other side of that.
“COVID-19 has just prolonged that recovery, everyone experienced a significant dip, but April was stronger than March, and with the relaxation on open homes it’s going to give them the confidence.”