Despite the coronavirus pandemic, vacant land sold by Charles L King First National is being snapped up at a record rate according to chief executive Ray Ellis.
“First National Charles L King & Co has sold almost 40 vacant lots of land in just the past 20 days,” Mr Ellis said.
“However, rather than young families, the influx of buyers from Melbourne are predominantly young retirees, people in their early 60s, who have been talking to our local office over the past six to nine months.
“Those people are now making up their minds and committing to a purchase in Echuca.”
Mr Ellis said the level of interest across the market had continued to be strong.
“Our local Echuca office has been surprised by the level of buyer enquiry for property throughout the COVID-19 lockdown,” he said.
“While the number of homes available for sale is certainly less than it was 12 months ago, the degree of buyer demand for those homes has kept prices steady or even led to higher than expected prices being achieved.”
Rental interest in Echuca has remained steady during the past 12 months, increasing by one per cent, according to Mr Ellis.
“People have certainly re-assessed their future real estate plans as a result of the COVID-19 crisis though,” Mr Ellis said.
“Lifestyles and family environments have been reconsidered and city-based residents are wanting to move to Victoria’s regions.”
Mr Ellis visited the Echuca office last week to inspect renovations on the site which are expected to be completed in the coming weeks.
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