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Article from the Noosa News Domain on 17th February

Outstanding Results from in-house Auction

Of all the 11 properties put up at auction in-rooms with hinternoosa.com.au on February 8, three sold prior, three sold under the hammer and another offer was in negotiation.

"Indeed this is an outstanding result" principal Murray Brown commented. "I expect within the week we will have a 70% success rate"

"I think the prices are outstanding and it's now evident you can buy land in Eumundi for $150,000".

"A builder could do something you can be proud of for about $160,000 and ideally you would rent it for $400 per week. Potentially that would provide a return of 5% making it a very attractive super fund option."

"Previously this type of investor may have been drawn to the mining areas, having said that, some of our buyers are owner occupiers", Mr. Brown said.

The renovated Cooroy home of 221 Forest Acres Drive attracted two registered bidders and another party with conditional interest. When offered to the market, the popular property drew a bid of $310,000 followed by an increase to $325,000. a pause in proceedings generated an increase of $345,000 and with no further offers the renovated home was sold to a couple who had been looking for a level block such as this. Being 0.42 ha within close proximity to Tewantin State forest and the Noosa trail network made it even more tempting.

Murray continued "It's important people in the street see the success of the auction method of sale. Last Wednesday evening's reaction shows the best result this year for the northern end of the Sunshine Coast. The show of genuine interest should be seen for what it is."

"The auctioneers report that 2012 has exhibited more bidder registrations than the last quarter of 2011. Whilst that may sound exciting the turnover hasn't increased markedly."

"This demonstrates that whilst there are a healthy number of buyers in the market place they continue to focus on a small number of properties. The three Ps remain constant. Price, presentation and promotion."

"The reality remains that many properties remain languishing on the market with little or no interest yet one in three sales are involved in a multiple offer situation. That's amazing and exciting".

And so this was highlighted with three of the lots being sold prior to auction day.

Murray sees this as people wanting to get ahead of the competition and knowing they have secured their purchase.

The venue room at The Cooroy Hotel on February 8 buzzed with excitement as the auction got underway with Matthew Condon and Gordon MacDonald of Jason Andrew Auctioneers tempting the crown of almost 100.

Potential sellers and buyers considering participation in the next event to be held on April 18 also attended and they were smiling.

It was apparent vendors in particular accepted the new realty of property prices.