Although at Clark Real Estate, we don’t believe auctions will get you the best price for your home, we do realise it is important to watch the Brisbane Home Auction clearance rates as they can be an indicator in how the general property market is behaving. And interesting article from News.com.au this week definitely was worth reading.
Brisbane Home Auction Clearance Rates Dropping
According to the article, revised figures from the REIV (Real Estate Institute of Victoria) shows that home auction clearance rates last weekend was only 59%. Figures are not available on Brisbane Home Auction clearance rates at present, but normally they are lower than southern states. This Home Auction clearance rate figure is interesting because it’s the lowest the clearing rates have been since 2008, nearly 3 years ago. And it was in that period that the market reversed and $67,000 was lost from the median house prices in Melbourne.
It’s important with the holiday period getting closer to think about how, when, and if you need to sell. The market is definitely changing at the moment and it’s important you consult with professionals like the team at clark real estate in clayfield, when considering what to do with your home or property investment, a Brisbane Home Auction may not be the best solution.