Brisbane Clearance Rates are on the Rise
It’s no secret that the property market across the country has been under pressure. However, recently things have been looking up with the clearance rate in Brisbane hitting its highest in over two years. As the clearance rate increases, it encourages the property market to stabilise, allowing you to sell your property for a better value.
Last week, Queensland's capital recorded an auction rate of 57.1 per cent from 93 auctions over the weekend, making it the best result since May 2017. This makes Brisbane the most improved capital city market in the country, with more buyers warming up towards bidding for their dream property. It is a significant progress considering the auction rate has been improving since the start of the year when the rate was in the mid to high 20s.
Such progressive results for auction clearance rates are due to the RBA’s two interest rate cuts, APRA’s changes to the serviceability buffer and population growth. All of these factors contribute to the property market and encourage it to stabilise, creating an excellent climate for you to get competitive results for your property under the hammer.