Brisbane clearance rate surges as auction volumes halve

first_imgThere was a major difference in the number of properties that were taken to auction though, with 105 total auctions over the week in Brisbane, compared to 195 the same time last year.More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoOf those 74 were reported to CoreLogic, with 45 cleared and 29 uncleared.11 Dempsey Street, Annerley, Qld 4103: 2 bedroom, 1 bathroom, 1 car space home sold on May 6, 2017 for $870,000. Picture: Realestate.com.au 9 Elouera Road Ashgrove Qld 4060: Bedrooms 4, Bathrooms 2, Car Spaces 3, sold at auction for $1.335 million. Picture: Realestate.com.au The number of properties put to auction in the first week of May in Brisbane has halved over the same time last year, but the good news is the clearance rate has surged.Latest CoreLogic figures shows that Brisbane’s auction clearance rate has hit 60.8 per cent – a major feat considering it was at just 41.2 per cent the same time last year. 54 Essex Street, Mitchelton, Qld 4053: Bedrooms 2, Bathrooms 1, Car spaces 1, sold on May 8, 2017 for $395,000. Picture: Realestate.com.au“While clearance rates remain above the long term average across the largest capital cities, the rolling four week average reveals a softening trend which can be attributed to Sydney’s final clearance rate drifting lower over the past two months while the trend in Melbourne is holding firmer in the high 70 per cent range,” the CoreLogic Property Market Indicator.“Preliminary results show that while Melbourne and Sydney maintain their place as the strongest auction markets, Adelaide and Brisbane have shown a rebound in the downwards clearance rate trend this week.” 42 Oates Parade Northgate Qld 4013: Bedrooms 3, Bathrooms 1, Car Spaces 2, sold on May 8, 2017 for $675,000. Picture: Realestate.com.auThis comes as the national capital city clearance rate held firm at 74 per cent on lower auction activity over the first week of May with 1,662 capital city auctions held and 1,365 auctions reported so far.A year ago the combined capital city preliminary clearance rate was 67.7 per cent off 2,230 homes taken to auction.17 Errard Street Kelvin Grove Qld 4059: Bedrooms 3, Bathrooms 1, Car Spaces 1, sold at auction $1.21 million. Picture: Realestate.com.aulast_img read more