![Ray White agent Darcy Quinn says vendors with realistic expectations should have no trouble selling their properties. Picture by Jenny Denton Ray White agent Darcy Quinn says vendors with realistic expectations should have no trouble selling their properties. Picture by Jenny Denton](/images/transform/v1/crop/frm/166161973/9f270259-5c3f-41be-9842-759547a69fca.JPG/r0_0_5184_3456_w1200_h678_fmax.jpg)
The local housing market has reacted positively to the Reserve Bank this week holding interest rates for the second time in a row, agents say.
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"That's the sort of news the market's wanting to hear, that gives buyers the confidence to buy and vendors the confidence to put their place on the market," Martin Skahill of Elders said.
8 Clarence Avenue, Kennington ($390,000-$415,000)
On Saturday seven sets of people had come through a small Kennington weatherboard in need of renovation he was selling that passed in at auction last week.
The indicative selling price had changed only marginally, Mr Skahill said, but the vendors were now considering an offer from one of them.
On the other hand, one of very few auctions in the city on Saturday, a modern three-bedroom house in Jackass Flat, saw only a few people turn up, and the property passed in.
The Jobs Gully Road property had a guide price of $475,000 to $500,000.
"Certainly you have periods where you do see the market slow down, as we have with the recent interest rate rises," Mr Skahill said.
But he thinks the disincentive of interest rate rises only delay transactions taking place, rather than stopping them.
"People who want to buy will always buy and those who need to, will sell," he said.
"You can always buy and sell property as long as it's priced according to the current market situation."
IN OTHER NEWS:
217 Forest Street, Bendigo ($440,000-$480,000) - Auction Saturday, August 19
On the corner of Forest and Harrison streets, Darcy Quinn from Ray White was showing people through another renovators project.
The Californian bungalow "character home" dated to around the 1940s, he said, and came optionally with a standard sized billiard table that had so far proved too heavy to remove.
The house was in "one of the most tightly held pockets of Bendigo at an entry level price" and was seeing plenty of interest.
"This is our third inspection and we've had 28 groups through," he said.
While the place "feels reasonable under foot and the roof looks alright", it was old, he acknowledged, and the agents understood, from potential buyer feedback, that a fair bit of work needed to be "factored in".
According to Mr Quinn, the market is "still pretty active".
"When a property is priced and marketed well, it should be able to get a result in 30 to 45 days," he said.
However, some vendors were still expecting prices like the ones being paid 12 to 18 months ago.
![Cameron Rogister from Bendigo Ballarat Real Estate says the market is strong but "a bit more traditional" compared to recent peaks. Picture by Jenny Denton Cameron Rogister from Bendigo Ballarat Real Estate says the market is strong but "a bit more traditional" compared to recent peaks. Picture by Jenny Denton](/images/transform/v1/crop/frm/166161973/b0d35e49-817a-435b-96e4-c625e85d5a45.jpg/r194_480_4597_3085_w1200_h678_fmax.jpg)
11 Bronwyn Court, Spring Gully ($970,000 to $1.05 million)
Cameron Rogister from Bendigo Ballarat Real Estate agrees the market is still strong, though "a bit more traditional" compared to the craziness of the COVID era.
Back then houses were selling in a week - and sometimes unseen off the internet.
Properties now are tending to "move" in a time frame of 30-60 days, he says, with the holdoff on rate rises during the week "stabilising things a bit more."
"So if vendors are realistic and pricing their properties to where the buyers see value, the buyers are turning up and making offers," he said.
Mr Rogister is selling a property at Spring Gully with a price range straddling the million dollar mark.
The custom built open-plan house, on an aproximately 1000 square metre block, features two gigantic master bedrooms and uninterrupted bush views from one side.
"Even though you're in suburbia you don't feel like you're in the suburbs," the agent says of the estate home, which adjoins an area of treed parkland.
The property also boasts a cinema room with drop down screen, an outdoor kitchen, major water feature and ample parking, shed and outdoor living space.
Mr Rogister won't be drawn on the price but seems confident the palatial bush residence will hit its mark.
"Spring Gully is a beautiful tree-lined suburb close to the centre of town and has some unique homes. It's in a quiet court," he said.
There had already been several viewings of the property and some serious interest.
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