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Mount Gambier property sales on rise

MARKET MOVING: Gebhardts Real Estate sales manager Ben Jeffries said with spring approaching, the city of Mount Gambier can expect to see a number of houses on the market in the coming months.

A Real Estate Institute of South Australia (REISA) report shows Mount Gambier was among the top three regional suburbs to see an increase in housing sales compared to the same period last year.

Figures showed 117 houses were sold in the city in the second quarter this year compared to 103 last year.

REISA president Alex Ouwens said it was fantastic to see an increase of around 8pc in housing sales in regional areas.

“These figures show the continuing resilience of the regional real estate market and I am optimistic this trend will continue over the coming months,” he said.

Gebhardts Real Estate director Paul Chuck said improvement in the city housing market had been steady over the past few years.

“The number of properties on the market has decreased and the selling time for houses has also shortened substantially, which are all positive things for the real estate market,” Mr Chuck said.

“The market is really positive, we are seeing a high number of people attending open houses and we are getting people offering on the properties when they are first listed.”

Complete Real Estate director Matt Kain also supported the statistics, citing an increase in buyer activity in the region.

“There are lots of buyers in the market and we are experiencing good levels of sales as a result,” Mr Kain said.

“But there is probably a shortage of properties to sell at the moment on that basis.”

“The market is really positive, we are seeing a high number of people attending open houses and we are getting people offering on the properties when they are first listed.”

While the data has shown prices have gone slightly backwards, Complete Real Estate salesperson John Overmaat said if buyers stay in the market, there could be an increase in the foreseeable future.

“You can feel it bubbling, it is just simmering and I would think that house prices would take a nice little rise in the next six months,” Mr Overmaat said.

Mr Chuck said the slight drop in price had not been noticeable in Mount Gambier and also expected the market to remain consistent in the future.

“Our prices have definitely held here, so the confidence level and the fact we are having more sales per month shows this market is still resilient,” Mr Chuck said.

The steady improvement in the market has been pleasing for the real estate industry and Mr Kain said it can be put down to restored buyer confidence.

“There is definitely an environment of confidence in the city that we have not seen for three years,” Mr Kain said.

“It is not just confidence in real estate, it is confidence in jobs and other economic circumstances in the city.”

Gebhardts Real Estate sales manager Ben Jefferies said the key for any home owner looking to sell is to liaise with their agent and generate interest in their property.

“The first two or three weeks is the time when we get the most enquiry, we get bombarded sometimes when the right property is listed,” Mr Jefferies said.

“Presentation, price and promotion are the three keys and generating interest can get you a better price for your property because you potentially are creating competition.”

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