Results from CoreLogic data show Brisbane achieved a 60 per cent clearance rate in late August, beating Sydney’s 56.5 per cent and Melbourne’s 55.7 per cent. In fact, the Brisbane auction clearance rate jumped 14.9 per cent compared to the same period last year.
Auction volumes are continuing to build leading up to the peak spring selling season and CoreLogic market commentator Kevin Brogan told news.com.au this was the first time Brisbane’s clearance rates had gone above those of Sydney and Melbourne.
“I think congratulations are in order,” he said.
“There is certainly evidence in Brisbane and Adelaide that investors from Sydney and Melbourne are looking at property.
“When the markets in the eastern states start to soften, a steady performance – such as that of Brisbane – suddenly becomes an attribute that is sought after.”