10/10/2024
Last weekend’s auction results showed some interesting shifts! 🏡 Brisbane saw a rise from 55% to 61%, while Sydney dipped from 66.2% to 62.7%. Canberra took the biggest hit, dropping from 65.8% to 51.6%.
Despite a jump in registered bidders, rising to 7.8 per auction, the active bidding stat dropped to just 2.6—buyers are curious but holding back. Among the factors at play, Brisbane’s stock levels have been climbing steadily for six months, with a 5.1% increase just last month, according to PropTrack’s Latest Listings report.
Curious times ahead as buyers keep watching, but fewer are jumping in!
One property that defied the trend was 74 Hawken Drive, St Lucia. Eddie Singh from LJ Ho**er St Lucia drew an impressive 23 bidders to the front yard of the home, which had been owned by the 96-year-old seller for nearly five decades. The property sold under the hammer for an incredible $3,065,000—$315k over the reserve!
