Market on the move

SUPER SELLER: Byron Bay First National’s Su Reynolds recently sold this Baywood Chase property in just five days.
SUPER SELLER: Byron Bay First National’s Su Reynolds recently sold this Baywood Chase property in just five days. Digby Hildreth

IT'S been a tough couple of years for the real estate market, but recent promising sales in the Byron Shire have shown the market is recovering.

Agents shire-wide agree the market is improving - as evidenced by the recent sale of one Baywood Chase house in just five days.

Principal of First National Byron Bay, Chris Hanley, said sales for his office for August had been the strongest in a long time.

"The public has decided to ignore the doom and gloom in Europe and are realising that economically, Australia is in a pretty good position," he said.

"While the past four-and-a-half years have been tough and challenging, the Byron Bay market is pretty resilient, but we certainly have suffered some loss of values.

"It's the low to middle end of the market which is from $400,000 to say $1.5 million that is selling. If a property is fairly priced, well presented and has the right agent marketing it, then it will sell."

First National sales consultant Su Reynolds set a recent record by finding a buyer for a Baywood Chase property in just five days.

"This was unbelievably quick, especially considering we are supposed to be in a so-called slow market," the owner said.

"Not only did we sell the house in a just a few short days, but for a price we were more than happy with."

The vendor, a long-time Byron Bay resident and retiree who wishes to remain anonymous, said he and his wife were thrilled with the service they received from Su.

Ray White Byron Bay principal David Gordon said while the market was improving, people still needed to be cautiously optimistic.

"I don't foresee any major rises in the market on the horizon. What we have now, well, that is the market," he said. "I would be saying to people, why wait?

"Those people thinking of selling need to make sure it's listed with an agent who's constantly turning over properties and making sales."

And it's not just properties in Byron Bay that are selling.

Brunswick Heads real estate veteran Russell Siwicki agreed the market had seen more activity and interest in the past few months.

"I believe people who were holding back on selling are now saying it's time to sell, and many people have also jumped out of the share market and back into real estate," Mr Siwicki said.

Tod Martin, a partner in Byron Shire Real Estate at Brunswick Heads, said vendors were being more realistic with their prices.

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