ON THE UP AND UP: Billy Mitchell says there is growing confidence in the Gympie market.
ON THE UP AND UP: Billy Mitchell says there is growing confidence in the Gympie market. Greg Miller

Lifestyle and investments drive turnaround for real estate

THE Gympie real estate market turned a corner last year and is showing no signs of slowing.

Two of the region's realtors believe the market is moving in the right direction after 2015's opening months.

Real estate agent Billy Mitchell said growing confidence in the market and low housing prices had meant the market was going from strength to strength.

"It's a great market at the moment," he said.

"Especially in the second half of last year it was very good and through this year so far.

"We've got the cheapest real estate north of Brisbane and that's attracting people to the market."

Mr Mitchell said auction clearance rates in 2015 had been increasing and many properties were on the market for only a few weeks before selling.

"I can only speak to my own experiences this year, but we've had up to 60% clearance rate at auctions," he said.

Although Tom Grady Real Estate owner Tom Grady said while the market had picked up steam in 2014's final months, it had slowed after Christmas.

But he said people were again looking to buy in town this month.

"The last couple of months since Christmas have been a bit slower than the end of last year," he said.

"Between Christmas, the election and then the flood, things dropped off a bit," he said. "But I've found it has started to pick up now."

While the agents agreed most buyers were looking for houses to live in, investors were looking at Gympie as an affordable market.

"We're seeing a lot of people upgrading their lifestyle," Mr Grady said.

"But also investors are buying their second or third property."

Southside the hot address

GYMPIE'S Southside is selling like hotcakes.

Two leading Gympie real estate agents nominated the area as among the top performing spots in town.

Gympie Real Estate's Billy Mitchell and Tom Grady from Tom Grady Real Estate said the Southside was booming.

Mr Mitchell said low prices on the Southside combined with low interest rates were bringing new buyers to the market.

"Properties in Southside are moving really quickly," he said. "Properties under $250,000 are selling really fast.

"I'd say the Southside is a really hot market these days."

Mr Grady backed up Mr Mitchell's view, saying Southside had become one of the city's hottest suburbs.

"The Southside is probably the most popular area at the moment," he said.

"We're finding for lifestyle properties areas on the eastern side of town are very popular as well.

"There has been some movement in other areas as well, like the Mary Valley."

Mr Mitchell said central Gympie areas were selling strongly, with an auction clearance rate of about 60%.

"The CBD is on fire," he said. "Anything at that entry level in that area is getting snapped up.

"We're seeing the number of days properties are staying on the market is going down."

Gympie Times


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