A Darwin-based agency has doubled its previous best October sales result, selling 25 units in one day, and it predicts another bumper month in November.
“Our best ever October result followed our strongest September, and we’re attributing the results primarily to a spike in consumer confidence following the conclusive outcome of the September federal election and ongoing interest rate stability,” said Glenn Grantham, general manager at Raine & Horne Darwin.
“It also helped that we had good stock levels and were able to attract a healthy number of buyers and investors to the launch of the Jepun Development on Smith Street Mall.”
Raine & Horne Darwin, which finished 42nd in Real Estate Business’ Top 50 Sales Offices ranking earlier this year, said it sold 25 of the two-bedroom apartments in Jepun in a single day, with an average apartment price of $588,000.
“People have also recognised the value in the northern and inner suburbs of Darwin and have capitalised on it,” said Mr Grantham.
Mr Grantham expected strong sales in November, which he said is traditionally one of the Darwin real estate market’s strongest selling months.
“Like other markets around Australia, the combination of lower interest rates and pent-up buyer demand means it’s possible we may see more action right up to Christmas, where usually the market tends to slow as soon as we hit early December,” he said. “This won’t necessarily be the case this year.”
As an added incentive, the agency is also offering potential vendors the chance to win a $25,000 prize, with the choice of a Harley Davidson motorcycle, a luxury cruise, or the amount in cash, simply by listing a home before 30 November.
“To be eligible for the draw, the property must be sold unconditionally or settled prior to 31 December, with the winner announced in January 2014,” Mr Grantham said.