Emerald records big rise in property sales

EMERALD'S real estate market defied economic doom and gloom last financial quarter with average house sales rising by almost 6%.

EMERALD'S real estate market defied economic doom and gloom last financial quarter with average house sales rising by almost 6%.

Emerald LJ Hooker real estate principal Brenda Logovik yesterday said local house prices were “still holding quite strong” despite this week's REIQ report that showed median house sale prices fell by 1.1% last year.

Ms Logovik, who has been an agent in Emerald for 18 years, said the market had been slower recently following mining job cuts in the region.

The REIQ report shows:

• Median house sales in Emerald rose by 5.9% in the December quarter to $352,000;
• Median house sales in Emerald fell by 1.1% in 2008 to $350,000;
• Median house sales in Blackwater fell by 0.2% in the December quarter to $274,500;
• Median house sales in Blackwater rose by 7% in 2008 to $267,500.

Ms Logovik said there was still activity in the local market, particularly with first home buyers.

“There are still activities. First home buyers still swinging into action,” she said.

First home buyers are looking to get into the market before June to secure their boosted government grant, Ms Logovik said.

With median house sales in Emerald falling in 2008, Ms Logovik said some people were considering selling their home for the same price they bought it for.

She expected the market to be a bit quieter in winter and would bounce back at the end of August or September.

The top house sale in Emerald in the December quarter was a home on Jeppesen Drive that sold in November for $650,000.

Originally published as Emerald records big rise in property sales