Home ownership for under $250,000 is still a reality in Logan, and some local agents are making it their personal mission to help first home buyers get their foot on the property ladder.
The LJ Hooker Beenleigh sales team sold a one bedroom, one bathroom unit in Boyd Street Eagleby for $234,100 on 26 July and agent Trina Wilson said buyer enquiries were overwhelmingly from owner occupiers.
“We had about 40 enquiries on that property, and it sold in less than a week,” Ms Wilson said.
“What would have been a buyers’ market flooded with investors in the past is now a buyers’ market of owner occupiers who are keen to get out of the rental cycle and get into their own home.
“These properties have usually been owned by investors in the past, but at the moment the bulk of our buyers are people just wanting to buy and move into it as their own home.”
Ms Wilson said the agency tried to time property sales at the end of tenancy agreements, for the benefit of both the potential buyers and current tenants.
“We encourage our clients to advertise for sale at the end of a lease if the property is tenanted so that buyers who want to move in can do so and so that tenants have time to look for something else and aren’t disrupted by open homes,” Ms Wilson said.
“We are really wanting to help out in any way we can to help first home buyers get into the market and own a home of their own.”
Ray White Springwood and Shailer Park agent Jas Singh recently sold a two-bedroom townhouse in Boundary Street Beenleigh for $220,000.
He said about 80% of his enquiries now came from buyers wanting to move into the home, rather than investors looking to put it on the rental market.
“The number of inquiries we get on properties in this price point is phenomenal,” Mr Singh said.
“Even if there is a long-term lease in place, we find our buyers are happy to wait it out and still buy the property with the secure knowledge that they can move into it when that tenancy ends.
“Buyers want to jump on something while they have their borrowing capacity secured and while we do still see investors interested in these properties, buyers who want to move in themselves are definitely on the rise.”
