Thursday, 6 December 2012

Real estate market set for hot summer

THE Byron Bay real estate market is set for what could be a bumper summer after the best spring sale results in five years.

First National Byron Bay principal Chris Hanley said October and November had been the best two selling months his agency had experienced in the past five years.

"The market is genuinely improving," he said.

"Prices are not necessarily going up.

"But there's a lot more buyers in the market and sellers are being more realistic about the prices of their properties.

"As a result of this, there have been quite a lot of sales through all price levels."

Mr Hanley said high-end properties, as well as those priced between $1m and $1.2m and the lower end of the market from $400,000-$600,000 had all been selling well.

"There is definitely an optimistic feeling in the market," Mr Hanley said.

"The past five years have been very challenging for all of us.

"But we've had a good spring and we are looking forward to a good summer."

Meanwhile, Byron Bay's old ambulance station in Jonson St has sold for more than $2 million to a South Australian buyer, agent Glen Irwin from LJ Hooker has revealed.

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