A PARCEL of land at Townview desired by developers for years has been on the market for two months.
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Jays Real Estate principal Sophie Keily described the sale of the 15-block estate in Kingfisher Street as “an interesting situation” because the owner was only selling it in bulk.
But potential buyers seem reluctant to buy the land.
“The land has been hunted after by developers for years and now when it’s finally out there available on the market, those who take it on don’t have the funds and those who have the funds don’t have the confidence,” Ms Keily said.
She acknowledged that it was currently a buyer’s market.
“However, as history in Mount Isa has shown, it can swing around to an extreme housing shortage quite quickly as was the case in 2008 and 2012,” she said.
The principal believed the parcel of land was a great opportunity – perhaps for a long-term local – to create contemporary housing, which was mostly only available in Healy Heights.
“While the real estate market has taken a hit over the past 12 months primarily due to the general downturn in the resource sector, we are now fortunately starting to see newcomers who are relocating to the Isa rather than being based in a fly-in fly-out capacity,” Ms Keily said.
The land already had electricity, sewerage, water and road facilities already installed, which would normally cost a developer “thousands of dollars”.
There was no set price for the property and the owners are open to negotiation.
“I think it could be sold at a good price,” Ms Keily said.
“Land is really rare in Mount Isa.”