Property Sales Lifting in Brisbane
Local Brisbane real estate agents are seeing signs of a pick up in the property sector despite it being winter, with many agents reporting stronger attendance and higher auction clearance rates.
According to RP Data figures, 337 properties in Queensland were due to be offered for auction at the end of May.
Australian Property Monitors results from their preliminary weekend auction indicated that there were 28 sales made from a total of 57 auctions, with a 45% rate of clearance.
RE/MAX Australia managing director, Michael Davoren, claimed that the strong market was being driven by low stock and increased buyer numbers.
A lack of confidence had held the market back even at a time of lower interest rates and reduced prices, and so there is now accumulated demand, said Mr Davoren.
Ray White Queensland CEO, Peter Camphin, said that the consensus is that it’s going to be a strong trading period this winter.
He advised people who are thinking of selling to list their property now, as opposed to waiting for the traditional spring season when there is generally more competition.