Local real estate market humming
WARWICK'S real estate market has seen a welcome boost during the past fortnight, highlighted by a successful auction at the weekend.
Property Specialists' sales consultant Brent Bowles said the local market had improved markedly during the past couple of weeks and he was expecting things to continue to improve.
On Saturday afternoon Mr Bowles auctioned off a property at Wildash and while he couldn't disclose the sale price, he did say a sale agreement had been reached.
Ray White Rural director and sales consultant Peter Lane was the highest bidder.
Mr Bowles said he was pleased with the small crowd that gathered in the CWA tea rooms for a piece of the action.
"We had six registered bidders which was a lot of people for a property that is just land," he said.
Mr Bowles said there were many reasons that buyers were interested in auctions.
"It is possibly the lure of a bargain but some people are just genuinely interested in buying a property," he said.
"Also, I think it is the unknown aspect and not knowing what you might achieve."
Although the bidding started off quite shaky at a mere $3000, it didn't take long for momentum to build and people to throw their hat into the ring.
Mr Bowles said the starting bid was not important for a successful sale.
"It doesn't matter where you start, it's about where you finish," he said.
Mr Bowles said properties to go under the hammer in coming weeks include a large property near Allora and two blocks of land at Mt Tabor.