Steady Demand and Strong Activity as Brisbane Auction Market Shines

The Brisbane auction market experienced strong activity from April to June 2024, with an overall clearance rate of nearly 70%. This represents a slight increase from the previous quarter, indicating a steady demand for properties in the area.
Auction attendance remained robust, with an average of nearly 30 attendees per auction. This high level of interest reflects the continued confidence in the Brisbane property market and the appeal of auctions as a preferred method of sale.
The number of active bidders per auction also saw a healthy rate of nearly 60%.

This competitive environment has contributed to the strong clearance rates and indicates a well-balanced market with both buyer and seller engagement.
There was notable interest in family homes and properties in suburbs with good access to amenities and schools, whilst investors remained active, particularly in inner-city areas and suburbs with potential for rental yield growth. The presence of first-home buyers was strong, driven by favourable government incentives.
The outlook for the Brisbane auction market remains positive, with expectations of continued steady clearance rates and robust attendance. The market is anticipated to remain competitive, supported by ongoing demand from a diverse range of buyers.

In Brisbane, the highest auction sale achieved over the period was $3.2 million and the lowest was $470,000.