Everybody loves Imbil as omens say good times ahead
IT TAKES more than two disasters in a row to keep a good region down.
And Imbil real estate agent Ron Jeffery says a verifiable 10 per cent rise in property values shows the Mary Valley has started to really bounce back from the Traveston Crossing dam aftermath and the world financial crisis.
"Our average property sale prices are up 50 per cent, but that is largely because we are seeing more properties sold in the higher price brackets,'' Mr Jeffery said yesterday. "That just changes the whole dynamics of the market.''
Like comparing apples and oranges, it is not a reliable guide to what is happening to individual properties.
But 10 per cent, a very substantial gain on any investment, is absolutely verifiable.
"People ask if prices have gone up,'' Mr Jeffery said.
"I can point to specific incidents where prices have risen by 10 per cent in the past 12 months.
"You can look at a couple of properties we sold and 12 months later we resold them for 10 per cent more.
"We have sold more properties in the past four months than in any other four-month period you could point to in the past 10 years.
"That excludes government sales,” he said.
The new market for higher priced properties, the force that has created that 50 per cent average rise, shows a market which not long ago effectively did not exist.
"Up until a couple of years ago, something in the higher price range was difficult to sell, now less so,'' Mr Jeffery said.
"A number of properties up to $1 million have sold in recent times.''
Mr Jeffery's optimism is supported by other businesses in the town.
The former Island Reach caravan park has been reincarnated under new management as the Imbil Camping Retreat.
And the weekend crowds it is now attracting provide one of the reasons for at least some of the business optimism in town.
Along with expected big numbers at Borumba Deer Park and the Borumba Dam's camping area, retail businesses are looking towards busy school holidays soon.