After Cyclone Alfred’s unexpected interruption a couple of weeks ago, the entire city was forced to press pause on everything else going on in our lives. We all had to prepare, most of us had to stop working and those with kids had them sent home from school.
Once the coast was clear and Alfred had settled down, we then had to play catch-up at work and at home to make up for lost time. This disruption impacted the real estate market as well. For one week inquiries about properties stopped and those who were about to list their homes had to delay. This can be further impacted by some houses that were about to be listed now needing a little extra preparation and also buyers who were about to make a purchase having to make some adjustments to their own homes.
So, I wasn’t entirely sure how quickly things would bounce back as Saturday, March 15, marked the first day for us to retest the market. I’m happy to report that last Saturday at our monthly in-room auctions, held at The Calile Hotel, we saw exceptionally high clearance rates and a strong number of bidders. Across the city open house numbers were back to high numbers and the buzz was back after the week off. Similar to how most gyms around Brisbane were quickly filled once people could get back outside, open houses also saw strong turnout!
The reality is that the factors driving the Brisbane real estate market are so robust that as soon as buyers were able to return to open houses, they did!
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The Victorian government has proposed new laws that would require sellers and agents to publish their reserve price seven days before an auction. These proposals haven’t passed parliament yet, but if they do, they will certainly throw a cat among the pigeons. Victoria wants change because they receive thousands of … Read more