More Queenslanders are considering a spring property sale, and we expect to see listing momentum collect speed very soon.
The property market in South East Queensland is peaking for spring. Although auction clearance rates were slightly down in the second weekend of September due to marginally lower stock levels, we are achieving strong results for those vendors who have realistic price expectations.
The number of groups attending auctions was significantly better than our expectations, while there were more registered bidders and sale prices consistently exceeded the reserve.
On the supply side, we’ve seen our appraisal numbers pick up by about 24% over the past month from mid-August to mid-September, compared to the July to August period. This indicates that more Queenslanders are considering a spring property sale, and we expect to see listing momentum collect speed very soon.
The northern end of the Gold Coast around Coomera exhibited plenty of strength in the early weeks of September, with significant buyer interest in properties priced between $460,000 and $530,000.
In Brisbane, there is strong demand for apartments in high-rise blocks and units in smaller boutique buildings, while sales and appraisal numbers are also strong to the city’s north in suburbs such as Burpengary, Morayfield, Beerwah and Woodford.