There was some pre-Easter joy for Queensland's prestige auction market last Thursday, with a Noosa Sound house selling under the hammer for $5.67 million.

Situated at 49 Witta Circle, the four-bedroom property was offered for sale by Tom Offermann Real Estate.

The auction consisted of four bidders, three of whom were present, and another who phoned in from overseas.

Marketing agent Eric Seetoo said the result defied the predicted pre-election slowdown within the market. 

“The traditional slowdown isn’t apparent this time, with most clients adopting a wait and see attitude," he said.

"Some are even predicting a post-election rush into investment property before any negative gearing or CGT changes are introduced.” 

View 49 Witta Circle on Luxury List

Occupying a waterfront location near Hastings Street, 49 Witta Circle benefits from open-plan living and dining areas, as well as a conservatory-style sun lounge and an entertaining deck and bar. 

Mr Seetoo said the address could be the highest Queensland house sale under the hammer so far in 2019.

“Witta Circle is one of those ‘can’t go wrong locations’ - it’s on the water, has picturesque views, and is an easy walk from Hastings Street and the beach," he said.

"The capital growth has been over 15 per cent on average for the 40 years, hard to beat.

“We are still finding demand strong, especially at the luxury end, and are critically short of properties at all levels."

Quietest Easter since 2012

According to CoreLogic, just 378 homes were taken to auction over the week making it the quietest Easter since 2012.

The 182 results collected have returned a preliminary auction clearance rate of 49 per cent, down from 52.2 per cent across 2,276 auctions over the previous week.

Sydney was host to the majority of auctions last week with 213 homes taken to auction, returning a preliminary clearance rate of 57.1 per cent across 105 results.

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Source: CoreLogic

In Melbourne, traditionally Australia’s largest auction market, there were just 48 auctions held last week, with 22 results reported so far and a preliminary clearance rate of 59.1 per cent.

REINSW President Leanne Pilkington said there was some "relative stability" reflected in the results.

"It was no surprise that auction numbers were down on Saturday, but according to Core Logic across the combined capital cities, just 378 homes were taken to auction over the week making it the quietest Easter since 2012," she said.

"Interestingly it was Sydney, not Melbourne hosting to the majority of them with 213 homes taken to auction, returning a preliminary clearance rate of 57.1 per cent across 105 results, continuing the relative stability in results we have seen throughout 2019."

Source: CoreLogic

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