To Sell Or Not To Sell?

We’re all “walking on eggshells” as far as interest rates go with the country witnessing a rapid rise in the figures from the Reserve Bank – the most recent coming just two days ago.

The local property market, however, is sailing smooth according to Whitsunday Realty Principal Troy Liesch – at least if you’re a landowner.

“I haven’t seen the interest rates effect the prices [of houses] yet, but if you look around it’s still a demand issue. A house comes along and it’s snapped up quick; it’s certainly a sellers’ market,” Mr Liesch said.

“The price of homes seems to be high, and the market is still good. Houses are selling quickly if they’re any good, rent’s great for the landlord, and commercial rentals are ridiculous in Proserpine.

“If you were looking to sell, this would be the time to do it.”

Mr Liesch said the interest rate hikes would “have to start hurting somebody somewhere” in the Whitsundays soon enough.

“If it’s real estate taking the hit, there will still be buyers. They’ll have a lot more difficulty gaining a bank loan, which will be a problem,” he said.

“Then one would think we’ll see the prices go down. It’s been holding for nearly three years, since Covid and it’s hard to say whether it has plateaued now.”

For sellers, the market is in a boom: Mr Liesch said he regularly sees a home go up for sale and be sold within the week – normally they would remain on the market for 30 to 40 days.

“If I was thinking about selling my house, it’d be sooner rather than later,” he said.

“People can come have any conversation with me – a free appraisal or a chat about the market – I’m happy to talk to them. Whether it’s rental or selling, we’re here to help.”

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Whitsunday Realty Principal Troy Liesch said the property market is in a selling mood

Image: Declan Durrant