Shane Hicks of Place Real Estate said he is seeing an increased demand for new homes and house and land packages in the Brisbane suburbs of Morningside, Bulimba and Camp Hill.

"We are finding the demand for new homes very strong," said Mr Hicks to WILLIAMS MEDIA.

"As an example, the property 16 Pinedale Street, Morningside recently sold before completion for $1.25 million which is a good solid price for the area," said Mr Hicks.

At a Glance:

• The combined capital city preliminary auction clearance rate improve with 63.3 per cent of homes selling at auction 
• Higher volume of auctions, with 1,164 properties scheduled for auction
• Both Melbourne and Sydney returned preliminary clearance rates above 60 per cent this week

"It is a five bedroom, three bathroom, 2 car and a pool residence by Brisbane Constructions that ticked all the boxes for the  buyer."

Mr Hicks said Morningside was an up and coming suburb of Brisbane located between Bulimba and Camp Hill.

"It's popularity has increased as the others have gone to the next price level."

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34 Arrol Street, Camp Hill sold in the mid $2 million price range by Shane Hicks of Place. Photo: Place

In Camp Hill new homes are also becoming popular.

"At 34 Arrol Street, Camp Hill we sold a house in the mid $2 million price range," said Mr Hicks.

"Based on that sale we sold two more in the same price range."

Auctions

Auction volumes for south-east Queensland have had a strong showing, according to auctioneer Justin Nickerson of Apollo Auctions.

"Auction volumes returned in earnest for the first time since the pandemic began," said Mr Nickerson.

"A feature was an increase in the average of registered bidder numbers - showing signs that buyers are still active and ready to transact.

"Auction volumes now remain solid all the way throughout winter - it will be interesting to see if the clearance rate follows suit."

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Source: CoreLogic

CoreLogic has advised that the week saw the combined capital city preliminary auction clearance rate improve with 63.3 per cent of homes selling at auction over the week.

The higher clearance rate was against a higher volume of auctions, with 1,164 properties scheduled for auction; the busiest week for auctions since the week ending 19 April.

Last week, there were 711 scheduled auctions with a preliminary clearance rate of 59.8 per cent, later revising down to 56.2 per cen at final figures.

While volumes remain lower than one year ago, the gap was less significant this week, with 1,505 auctions held one year ago when 61.8 per cent cleared.

Both Melbourne and Sydney returned preliminary clearance rates above 60 per cent this week, with Sydney the best performing of the two largest cities.

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Source: CoreLogic

There were 474 Melbourne homes taken to auction with a 61 per cent success rate, which was more than double the volume of auctions held last week (195), when a final clearance rate of 60.1 per cent was recorded.

Sydney’s preliminary figures saw 67.3 per cent of homes successful at auction last week with 532 auctions held across the city, higher than the 398 last week when 56.8 per cent sold.

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Lower auction volumes across capital cities: Market Wrap

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