Home
  • plan
  • Invest
  • Property
  • enquire now
  • Learn
Home
DPN
  • plan
  • Invest
  • Property
  • enquire now
  • Learn

Clearance rates improve as Xmas nears

The south east Queensland auction clearance rate topped 48 per cent last week following three weeks of steady rises in sales numbers, independent auctioneering company Jason Andrew Auctioneers has ...

TAGS

Beginner (579) / Intermediate (544) / Expert (568)

The south east Queensland auction clearance rate topped 48 per cent last week following three weeks of steady rises in sales numbers, independent auctioneering company Jason Andrew Auctioneers has reported.

The result, which was based on 42 auctions, was due to "growing pressure for buyers and sellers to finalise a deal prior to Christmas," the company said.

"Buyer activity was noticeably higher during the week with an average of 1.76 registrations per auction. This is close to double the year-to-date average of 1.04 and three and a half times the year to date average for 2010 of 54 per cent."

Australian Property Monitors (APM) said Brisbane recorded a 20 per cent clearance rate on Saturday, based on 24 reported auctions.

Director Jason Andrew said the increased clearance rate appears to be coming without a need for individual vendors to significantly shift their expectations more than the percentage drop recorded over recent months.

The average shift for sales – or the amount vendors discount their reserve price – made on auction day last week was 8.3 per cent, up from 8 per cent the previous week, Mr Andrew said.

"We recorded an average shift for properties sold under the hammer of 7.2 per cent for the September quarter and 7.4 per cent across spring," he said.

"This level is just below the shift we saw last week, indicating that buyers are seeing real value at current market prices and are prepared to act without the need for individual vendors to drop their expectations much further than over recent months.

"This is not to say vendors can expect a premium, more that a higher number of vendors are prepared to accept current market value and a greater number of buyers believe prices have reached the tipping point and it has become prudent to act now.

"With just two weeks of trade until the market effectively closes for the Christmas break and an unpredictable year ahead, the window of opportunity to trade in this atmosphere of heightened activity may well be limited."

 


Follow us on Twitter for more news, tips and inspiration.
Like us on Facebook and Google+ explore our Pinterest boards.

Like this article or found it helpful? Share it!

Newsletter

Receive our articles directly to your inbox

Next article

Ruling on ANZ card fees first salvo in litigation

Go to articles list

Programs

Work with us
Giving back
Become an affiliate
Refer a friend
Help desk
Property Management
Finance

Locations

Head office
Australia
Hong Kong
Singapore

Contacts

Toll free in Australia
P. 1300 723 318
Outside of Australia
P. +61 2 9525 2033

Social Media

Newsletter

Terms of use | Privacy policy | Guarantees

This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.