THE cry of "sold" and the rap of the gavel on timber returned to Ipswich auction rooms yesterday as the $7000 stamp duty was rescinded by the State Government.
The July 1 date Premier Campbell Newman set early this year finally arrived for Ipswich real estate agents, who delayed auctions to give buyers a leg-up and a bigger deposit for their new homes.
Six of the 12 properties Ray White had up for auction sold, while LJ Hooker held two onsite auctions yesterday, with more planned for next weekend.
They hope it is the beginning of a promising month for the industry.
LJ Hooker Ipswich sales manager and auctioneer Keith Edwards led the auction of a four-bedroom Pine Mountain property.
Mr Edwards said the market had stagnated for the previous two and a half months, since the July 1 date had been set by Mr Newman.
The auction, like those held by Ray White, was deliberately held yesterday to give buyers an extra $7000 to haggle with.
The property was successfully sold for $406,000 after reaching a reserve of $404,000.
"It was definitely postponed to take advantage of the Can Do stamp duty concession and we expect a flurry of interest this month," Mr Edwards said.
Ray White principal Warren Ramsey said the properties up for auction yesterday were held to avoid paying the stamp duty.
More than 80 onlookers packed into Ray White's Limestone St offices for the auctions, which had 18 registered bidders.
Four of the 12 properties went under the hammer with another two finalised later in the afternoon.
Mr Ramsey expects business to pick up in July with most families looking at instantly adding $7000 to their deposit.
"It's not the start of a mini-boom, but a property that might have been sitting around might get a bit of activity," he said.
"People are not going to be reluctant now to move around because it is a little bit more affordable and they don't have to pay the government when they move.
"Maybe a few more renovators will come back into it."