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Buyers acting fast to secure sales in Townsville ahead of auction

Posted: 2021-02-05 13:00:00

Original link: https://www.realestate.com.au/news/buyers-acting-fast-to-secure-sales-in-townsville-ahead-of-auction/

Townsville’s auction market is heating up, with February shaping up to be a big month for houses and units going under the hammer.

Everything from character houses and modern suburban homes to luxurious residences with sea views will go under the hammer over the next few weeks, as sellers and buyers alike warm to the sales method.

But you had better act fast, with some under offer before even making it to auction.

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17/48-55 Sir Leslie Thiess Dr, Townsville City will go to auction on February 16

Data from realestate.com.au shows Townsville is now consistently recording around 15 auctions a week, but private treaty sales still dominate the market.

Regional areas, including Townsville, have never been traditionally big auction markets, but with COVID-19 restrictions forcing more people online last year, the auction trend is on the rise.

Two auctions were scheduled to take place in Townsville today – a huge block of land with two structures at Majors Creek, which is now under offer, and a modern, four bedroom house at Bushland Beach, which will go under the hammer at 10.30am.

The auction of this 20.29ha property at Majors Creek has been cancelled after the owners received and accepted an early offer

Then on Monday, two more properties were scheduled to go under the gavel – a chalet-style house on Castle Hill, which sold on February 2, four days before auction, and a three-bedroom apartment in South Townsville.

Ray White agent Julie Mahoney, who marketed both properties, said the changing demographic in Townsville, the limited stock on the market and the increasing competition for properties was leading the auction charge, and forcing fast sales.

45 Gilbert Crescent, Castle Hill, did not even make it to auction, selling four days before it was scheduled to go under the hammer

Ms Mahoney said auctions were popular with publicity-shy prestige property owners, but were also becoming more common across the more affordable price brackets.

“For sellers, they can get a fair market price and for buyers, the process is transparent as they know what other offers are on the table,” she said.

On Tuesday, seven properties will go to auction – two with Explore Property and five with Keyes & Co Property.

Damien Keyes, principal of Keyes & Co Property, said COVID-19 restrictions changed how the real estate sector did business overnight.

“Suddenly we had to create a contactless environment (for buying and selling) and now I think that technology is here to stay,” he said.

“Now buyers can bid online, from anywhere, or in person, and sellers can watch the process.

“It is a bit like online shopping.”

Damian Keys from Keyes & Co Property at 17/48-55 Sir Leslie Thiess Drive, which is scheduled to go to auction on February 16. Picture: Evan Morgan

Mr Keyes said a “mixed bag” of properties would go under the hammer on Tuesday night, from a riverfront house in Douglas that is “getting lots of attention from hospital staff” to an acreage property at Rollingstone which “will be hotly contested by local and interstate buyers”.

“And the house at Belgian Gardens, well we had 49 groups through that at the first open home,” Mr Keyes said.

A spacious Kelso house on a one acre block will go to auction on February 13 with Ray White Townsville’s Wendy Litser.

It ticks all of the “new normal” boxes – a spacious house, acreage and lifestyle.

There is plenty of room to roam at this Kelso property

On February 15, Ms Mahoney will auction former North Queensland Cowboys coach Paul Green’s showstopper on Castle Hill.

Former Cowboys coach Paul Green’s stunning Castle Hill house will go under the hammer on February 15

And then just 24 hours later, Keyes & Co Property will take another three properties to auction – two acreage retreats at Alligator Creek and a spectacular marina residence in Townsville City.

2-14 Corser Dve, Alligator Creek will go under the hammer on February 16 at 6pm

Mr Keyes said they already had auctions booked for March, predicting that the sales method would continue to grow in popularity as the year rolled on.

REIQ Townsville zone chair Ben Kingsberry said the number of auctions being scheduled in Townsville had “definitely increased” over the past 12 months, but he instead put that increase down to a “moving market”.

Spurred on by low interest rates, generous government incentives for new house builds and more personal savings as a result of COVID-19 lockdowns, local buyers are upgrading and investing, while interstate city dwellers are making the move to regional areas for a lifestyle change, according to local agents.

“Because we have a moving market again, and more demand, it can make it more difficult to price a property, so more sellers are considering the auction option,” Mr Kingsberry said.

“A year ago, Townsville was doing about 2000 (total) sales in 12 month but now its up over 3000.

“That means sales overall are up a third which is huge.”

As of Thursday, two more properties had been listed for auction – a modern house at Currajong on February 27 and a renovators delight at Garbutt on February 28.

A unique cottage on Castle Hill has been listed for auction on March 1.

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PROPERTIES THAT ARE/WERE SCHEDULED FOR AUCTION

TODAY

2300 Woodstock-Giru Rd, Majors Creek (under offer)

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