Real estate market alive and well, says auctioneer

THE Gladstone real estate market is alive and well'', said auctioneer Edgar Allen after bringing down the gavel on more than $1 million worth of allotment sales this week.

Ten of the 20 available blocks in The Woodlands, at Telina, sold at auction on Thursday.

To be able to sell a full half of the auctioned items like that indicates the buyers are out there,'' said Mr Allen who is also principal of Ray White Gladstone.

Mr Allen said most of the people signing contracts were home-buyers.

"Quite a lot of young couples were here making bids ? a number of the buyers are looking to upgrade.''

The bidding on every homesite, ranging in size from 807 square metres to 3945 square metres, began at $100,000. If no other higher offer was made, the starting bid became the sale price.

The largest block on the estate, a battleaxe block of 3945 square metres sold for $120,000.

Mr Allen said it was expected a further 88 allotments would be completed and sold in the estate by the end of the year.



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