Brisbane Auction Market Shows Strong Performance in Q3 2024 Amid Rising Buyer Demand

The Brisbane real estate auction market has shown a strong performance in the third quarter of 2024, with rising clearance rates, steady attendance and competitive bidding across key suburbs.

Over the three months to September, clearance rates were at an average of 65.8%, reflecting a steady recovery in the market with an increase in buyer confidence and demand​.

Auction attendance across Brisbane remained strong during this period, with an average of 23 people per property.

Registered bidders per auction were similarly robust, with many properties seeing an average of four to five bidders actively participating.  

The competition has been particularly fierce in Brisbane’s more affordable suburbs such as Chermside and Everton Park, which saw increased auction activity, particularly in the unit market, as buyers sought out budget-friendly options amid rising property prices.

Looking ahead, auction activity is expected to remain strong as the supply of new homes remains constrained, pushing demand towards existing properties​.

The Brisbane Market Wrap Up brought to you by Ross Cannell. Download the rest of our Q3 Auction Report.