Wooli property market receives a boost

7th December 2017 4:00 AM
SOLD: 20 South Terrace in Wooli sold for $970,000 at auction. SOLD: 20 South Terrace in Wooli sold for $970,000 at auction. Simon Hughes

THE WOOLI property market has received a shot in the arm after one property sold last week via an expression of interest for $970,000.

LJ Hooker Grafton agent Ryan Hopkins, who helped sell the property along with Nick Buckler, said their office received more than 50 individual inquiries from local, interstate and even international buyers in the five weeks the property at 20 South Terrace was on the market.

"The price achieved was absolutely well above expectations, from our point of view and from the point of view of other agents in the area," he said.

"We achieved a price in Wooli that hasn't been seen in close to a decade for a residential property.

"The owners' expectations were there but as agents we're generally a bit more realistic, but we were completely blown away by the response we had to this property."

Mr Hopkins said he was also surprised by the interest the property received.

"From day one we put up a sign a week before it went online, and we had a massive response to the for sale sign alone," he said.

"Then when the advertisement hit the net it brought in excess of 50 inquiries. There's a bit on the market now, so this exposure has really brought people into the market now."

After the success of this sale, Mr Hopkins said he was hopeful the property market at Wooli would see a rise in interest.

"Off the back of this sale, the Wooli property market is certainly strong," he said.

"Across the board I think we're seeing conditions improve and it might start a bit of a domino effect. We've already had several other owners at Wooli have their properties appraised and are interested in putting them on the market.

"We expect there may be opportunities for more people to secure their new beach getaway in Wooli. It's becoming for some time a strong holiday spot and after this people might turn their attention to Wooli to look for their dream spot on the beach."

For more details contact LJ Hooker in Grafton.