Property

Property market is looking positive for 2014

Craig Warhurst

THE property market may not have been booming last year but 2014 is tipped to be better.

Although Gympie Regional Realty proprietor Margaret Cochrane sold 150 properties during 2013, it was under tough market conditions.

Gympie Regional Realty project manager Graham Engeman said the outlook for the 2014 property market will be more successful, depending on the financial factors.

"The market is looking steady at the moment," he said.

"In houses there has been movement which is not likely to stop.

"Gympie is well positioned because it is close to the Coast and Brisbane and the cost of living is cheaper.

"It all depends on the Australian dollar and interest rates.

"Once the confidence in our financial market grows, property sales will increase."

Around the Gympie region markets have been tough for the past two years, but property inquiries are expected to grow, though it may be gradual.

Tom Grady real estate consultant Greg Gilmore said there were some positive indications of future growth.

"We are about six to nine months behind other markets with no price increases but during the middle of 2014 things should pick up," he said.

"Over the last two years it has really been a buyers market and sellers have been losing money.

"However we are seeing investors and some first home buyers move in so hopefully there will be resurgence in land sales."

Professionals Gympie proprietor Ashley Coleman was in agreement with Mr Gilmore.

"In the last two to three months Regional Queensland hasn't seen value grow, but there has been a growth in inquires which could make that change," Mr Coleman said.

"We have been selling properties across the board, although the dry weather makes it harder to sell rural properties.

"Personally, I think the coming year will be much brighter for real estate."

Landmark Harcourts proprietor Nathan O'Neill said the number of property auctions will grow.

"With increased confidence in the local market, buyer activity has been healthy over recent months," he said.

"In the new year we expect this momentum to continue with vendors willing to meet the market and buyer numbers increasing as more investors move into the Gympie market. "The New Year traditionally brings with it a high number of new listings and we expect to see significant increases in auction listings as sellers test the market."

Gympie Times

Topics:  business forecast property market



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