August has seen another very resilient month in the Brisbane property market.
It feels like the initial shock of consecutive interest rate rises has started to stabilise in people's thinking and planning around purchasing and selling property.
In Brisbane’s prime markets, which Place represents with some level of significance, we are starting to see an increase in people with more confidence in the market and they’re thinking more about the medium to long-term future rather than the immediate.
We’ve seen an increase in the volume of people at open homes, registering to bid at Auctions and in offers received on properties. Our Auction clearance rates have remained consistently around the 70% mark, higher than the ones recorded Brisbane-wide.
The year, in general, has proven to be a bit more seasonal and we are moving into the Spring selling season. We have seen an increase in the number of Auctions booked and an increase in the number of properties that are coming onto the market.
We are also witnessing more buyers in the market, so it still feels as though the level of supply and demand is balanced. We look forward to a very healthy run across Spring and into Christmas.
August Auction Case Studies
56 Iona Terrace, Taringa
- $1,957,000
- 64 groups through the campaign
- 11 registered bidders
136 Annie Street, New Farm
- $1,350,000
- 6 Registered Bidders
- 14 Groups through the campaign
127 Denman Street, Greenslopes
- $2,100,000
- 3 Registered Bidders
- 30 Groups through the campaign
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