Figures show houses sales are picking up in Rockhampton
THREE houses in the Rockhampton region went to auction on the weekend, but failed to sell.
Homes at 406 Campbell Stt, Depot Hill, 28 Riley Drive, Gracemere and 17 Hodda Drive at Kawana all went under the hammer but all three were passed in.
But the term "passed in” should not mean anything negative, says McGrath Real Estate Rockhampton and Capricorn Coast's principal Todd Brandon.
Mr Brandon, the agent for Hodda Drive, said although the property was "passed in”, there was plenty of action still in the works.
"It was still successful but wasn't anything dramatic like The Block,” he said.
He is now in negotiation with the highest bidder from the on-site auction. The asking price was $455,000.
Television shows and misconceptions wrongly led the public on how auctions were run, Mr Brandon said.
"I think too many people place an emphasis on when an auction is passed in... the real success is the two weeks after the auction,” he said.
Two-third of properties that went to auction sold after the auction, he said.
"There is that perception that it is a fail if you don't sell under the hammer,” Mr Brandon said.
Around five per cent of homes are sold prior to auction and about 20 to 30 per cent sell on auction day, he said.
Across the broad spectrum, Mr Brandon said there had been a number of strong sales in Rockhampton while the Capricorn Coast had been consistent. At the end of each month, the McGrath team counts the number of house sales on realestate .com.au.
Last month, 64 homes sold in Rockhampton and 33 in Yeppoon. In September, Rockhampton sold 44 homes and Yeppoon 32. August saw 69 homes sold in Rockhampton and 40 in Yeppoon.
"It's not the end result, it's a real time lead about how the market is going,” he said.
These numbers have been rising in the last three months, he said.
"To see that spike and go up into the 60s... there are quite a few transactions happening,” he said.
He said buyers are seeing good value in the market at present.
"Buyers think this is a really good time to buy,” he said.
The talk about added economic development and the well-publicised $2 billion-dollar capital works program in Rockhampton is seen as money well spent, Mr Brandon said.
"If all that money does get spent, there will be more jobs and with more jobs come people,” he said.