Clearance rates continue to strengthen across Brisbane - Place
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Mar 11, 2021
Clearance rates continue to strengthen across Brisbane - Place
Place has experienced strong clearance rates nearing 100% as Brisbane continues its stellar run.
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Place
Place Real Estate’s Chief Auctioneer, Peter Burgin told WILLIAMS MEDIA, “Our weekly auction rates have hit a staggering 98% in Brisbane as demand intensifies.
Mr Burgin said strong clearance rates were due to people wanting to relocate to the sunshine state as well as repatriation with people returning to Australia as they view it as a safer and better place to be.
“We’re now seeing unprecedented results as demand surges,” he said.
Mr Burgin said the increased activity is coming from buyers looking at development opportunities, particularly in the desirable inner-city suburbs along with owner occupiers in the $1 million to $2 million price range.
“Brisbane’s market was performing well prior to Covid but the pandemic has seen many reassess their lifestyles which has led to such strong growth.
Image: 21 McCormack Avenue, Ashgrove which sold under the hammer for $1.27 million. Source: Place
“It’s Brisbane’s time. It’s a great place that caters to all lifestyle amenities, has a great climate and enough stimulation to appeal to those relocating from other cities.
“The Gold Coast is just 45 minutes away and this is another factor in the rise in those relocating to the city,” he said.
Mr Burgin recently auctioned 21 McCormack Avenue, Ashgrove which sold under the hammer for $1.27 million.
Offered for the first time in over 50 years through Place agents, the comfortable post-war residence is located in one of Brisbane’s most coveted suburbs with accommodation offering 4 bedrooms, 2 bathrooms and a downstairs rumpus room.
Image: 33 Badger Street, Newmarket sold for $1.1 million. Source: Place
In another sale, the renovated character home at 33 Badger Street, Newmarket sold for $1.1 million. Located in a popular suburb near exclusive schools, vibrant shopping strips, parklands and the city, the 2-level home has an extensive floorplan with 2 bedrooms, living and dining plus a downstairs rumpus, study and second bathroom.
Mr Burgin said he expected clearance rates to remain strong in Brisbane throughout 2021 adding that, “Limited stock could also drive up prices.”
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Contact Details:
Contact details:
Peter Burgin
Place Chief Auctioneer
+61 419 782 985
Email
42068
41216
Peter Burgin
