That's a wrap
It’s hard to believe that winter is here, and 2015 is now but a distant memory. We have seen the property landscape undergo much turbulence this year, with the negative gearing debate front and centre. Budgets, elections and interest rates are all attracting the customary attention. There still seems to be a lack of confidence throughout the South-East corner from both buyers and sellers, although particular pockets are proving to be the exception to the rule.
The numbers show us that the clearance rate has stayed remarkably constant from 2015, down by just 0.07% - 42.68% from 42.75% last year. Pleasingly, the number of properties selling immediately after the auction has increased, leading to an improved 45 day clearance rate. Properties that were previously marketed as a private treaty before changing to auction sold at a surprising clearance rate of 59.98% - far higher than new stock to the market.
We have changed our regional data to better reflect geographical regions. Unsurprisingly, beachside Gold Coast and Inner Brisbane are the stand out performers, whilst the Sunnybank region as always remains it’s own dynamic market. Regional Qld and Outer Brisbane proved harder to shift, although both recorded growth on their 2015 figures.
Whilst the number of registered bidders remained relatively consistent, the amount of participating bidders increased, a credit to the agents who have placed a greater focus on buyer engagement and discussions around bidding strategy. Whilst we have included inspection numbers in this report, it again shows the key is generating of offers prior - committing buyers and getting sellers true information.
To all of the agents that make this information possible we say thank you, and look forward to a great remainder of 2016!