Brisbane leading home auction clearance rates nationwide during Winter season

Brisbane auctions have been found to lead the nation’s home auctions during the winter season, with experts suggesting seasonal bidding may be a thing of the past for Queensland.

Auction analysis from Place Advisory Research compared year-on-year auction results across each of Australia’s capital cities, and found Brisbane had shown the strongest clearance rate improvement within a typical winter week.

The week ending in July 20 saw Brisbane’s clearance rate rise from 40.1 per cent to 54.5 per cent this year, making for the strongest week-on-week improvement of any capital city.

New data analysis has found Brisbane to lead the nation in home auction clearance rates during a typical winter week. Picture: Brendan Radke

Place Auctioneer Sam Kelso said much of July’s positive results came from higher-end buyers eager to jump on attractive and limited homes. Picture: Annette Dew

For the week ending in July 27, the preliminary clearance rate sat at a huge 74.5 per cent: making for this year’s second-highest early result so far, following a 76.1 per cent peak in late June.

Much of this activity was seen in the inner-east and inner-south of Brisbane, including a $4.05 million result in Ascot and multiple transactions more than $3 million in Hawthorne, Robertson and Balmoral.

Place auctioneer Sam Kelso said this trend was common month-on-month in both July and August, with higher-end buyers making up a significant portion of the season’s market.

“What you’re seeing is that when a good piece of real estate comes up like a prestige or rare property, people know that they have to jump on it,” he said. “They don’t want to miss out, knowing that it’s hard to buy a property like that quickly.”

51 Park St, Coorparoo, one of many homes for sale at Place’s The Winter Day auction event over the weekend.

236 Grassdale Rd, Gumdale. The agency plans to sell a large cluster of houses during a period of demand not meeting supply, where fewer homes get more attention.

Mr Kelso said while supply remained lower in winter than in other times of the year, many buyers were using this as a chance to make their homes stand out more, often seeing seven registered bidders at a sub $1.5 million home.

“We’re getting the feedback that there is not enough stock on the market currently,” he said. “Maybe there are fewer sellers in the market, but there are certainly not fewer buyers.”

129 Morehead Ave, Norman Park. Mr Kelso said he typically saw around 7 registered bidders at auctions for homes under $1.5 million.

132 Victor St, Holland Park. “Maybe there are fewer sellers in the market, but there are certainly not fewer buyers,” Mr Kelso said.

Place plans to capitalise on the winter demand with a three-day auction event called The Winter Day, taking place from August 8 to 10.

The agency will be placing several dozen auctions up for sale over the weekend, including standout offerings in Norman Park, Gumdale, Holland Park and Coorparoo.

Place Camp Hill agent Shane Hicks, auctioning both the Norman Park and Gumdale properties, said he was receiving frequent calls from buyers about available homes during the winter months.

“There’s a real buzz in the market right now,” he said. “We’re seeing a new level of urgency, especially in the prestige and lifestyle segments. Winter used to be a wait-and-see period, but not anymore. If a property is well-presented and well-priced, it’s attracting serious interest.”

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