$10m buy­ing spree by keen home hunters

Sunday Territorian - - NEWS - GARY SHIPWAY BUSINESS ED­I­TOR

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.”

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