Brighter Selling

Market Update: Brissie auctions are sizzling – should you sell under the hammer?

by Justin Watt, CEO 25 February 2021

Something strange is happening in Brisbane’s auction markets with homes selling under the hammer like never before.

This month we’ve seen clearance rates top 75 per cent – that means three out of every four homes that went to auction were sold. Almost double this time last year, reports Domain.

So what? Well Brissie has never been known as an auction town, unlike Sydney or Melbourne.

A healthy Sydney market can see clearance rates easily above 80 per cent, but a high auction clearance rate in Brissie is a bit of an anomaly.

So should you sell your Brissie home under the hammer?

Keep in mind the number of properties that go to auction in Brisbane remains very low. If you check out the Core Logic auction preview data you’ll see Brissie has far fewer homes scheduled to go under the hammer than the southern capitals.

This means Brissie buyers are still more accustomed to submitting a written offer in their own time, on their own terms. The upside is you’ll have more time to consider the buyers’ offers and negotiate terms that suit you too.

In a market where stock is low, the competitive bidding of an auction could work in your favour – but the success of this strategy can also depend on your suburb and the type of buyers you’re likely to attract.

So when making up your mind on how to sell your home, it is best that you talk to several local agents to determine the selling strategy that is right for you.

Time for your next move? Book a valuation or talk to us about selling.