Sell with Confidence
Read More
News

Brisbane Auction Market Responds Quickly To Latest Rate Cut

By Ashleigh Leavitt

If you’re looking for a pulse check on the market, then last Saturday was the one to take. Only four days after the interest rate drop, I took my regular position behind the podium at the Calile Hotel to start the morning with 24 auctions. The properties ranged from entry level units to townhouses, local homes and prestige property.

In the lead up to the event, as news of the interest rate drop filtered through the market, we saw a surge in urgency. The top end saw buyers compete to purchase a prestige home in Teneriffe for $8.4 milion in the hours before auction. While the townhouse market was a bit more patient, approximately 20 buyers registered for the three townhouses on the order of sale. First up was an entry level townhouse at Toowong, with over 10 bidders registered. The property saw fierce competition and pushed through the million-dollar mark, eventually selling for $1.23 million.

A new level for similar properties in that area. That then became the theme of the morning, with the other two townhouses also selling with strong competition. After the Calile auctions, I took to the streets of Brisbane, calling auctions on the footpaths and the momentum continued to build. We broke suburb records in Stafford Heights, saw strong sales above $3 million in Ashgrove and live bidding above $6.5 million in Indooroopilly. Seventeen sales in all took place and as I turned into the garage, sounding like the late Tommy Raudonikis, I knew that the interest rate cut had pushed the market to a new level.

Up to Date

Latest News

  • 11 Budget-Friendly Home Projects You Can Do This Weekend

    Small changes can make a big difference in your home – without draining your wallet. Keeping a house looking good and feeling comfortable often feels like an ongoing project. With the rising cost of living and busy schedules, big renovations aren’t always realistic. Luckily, there are plenty of quick and … Read more

    Read Full Post

  • WHY LAND TAX REQUIREMENT IS ‘ANYTHING BUT HARMLESS’

    On top of the new Sellers Disclosure, there is also a new contract. For some reason someone has snuck in a seemingly harmless tick box on Land Tax. But it is anything but harmless! A quick lesson on Land Tax: It is a state government tax that applies to investment … Read more

    Read Full Post