THE Brisbane property market is primed for a big spring selling season on the back of a strong lift in listing and auction numbers.
After months of sluggish listings and clearance rates below previous highs, the start of spring has bought with it some renewed vigour to the real estate market.
LJ Hooker reported a 23 per cent lift in the number of properties it has scheduled for auction for the first week in spring, auction bookings were up 30 per cent for Place Real Estate and Ray White has hundreds of homes set to go under the hammer across massive campaigns.
LJ Hooker auctioneer Paul Moore said the momentum had started to build in Brisbane in recent weeks.
“Some sellers sold prior to spring to avoid the rush and that’s created momentum heading into this weekend,” he said.
“I’m calling eight auctions across Brisbane (today), so sellers really have come out of the blocks for spring. Queensland’s spring selling season hits its rhythm ahead of the southern states because our gardens come to life earlier and we’re spoiled to be out and about in early September with sunny skies and temperatures in the mid to high twenties.”
Ray White Queensland CEO Tony Warland said there were a number of “green shoots” that pointed toward a strong selling season.
The group had experienced a “very successful month’’ leading into spring and early indications were that stock levels would rise between now and Christmas.
“The speed of the sale has increased so much so that less property is available and harder to replace,” he said.
To meet the predicted demand, Ray White has two major auction events planned with 40 properties going under the hammer on the Sunshine Coast on September 17, and 100 in Brisbane on October 22.
In the past two weeks Ray White New Farm auctioneer, Haesley Cush, sold four properties under the hammer to buyers who only saw it that day.
“This gives evidence that buyers are either confident with today’s values or that those buyers who have been looking are wanting to buy before the wave of Spring buyers hit the market,” he said. “Their motivation to buy, matched with the appeal of fresh listings is the perfect property storm to deliver sales to the market.”
Place real estate CEO, Damian Hackett expected it to be a solid spring.
“Brisbane currently has the strongest market conditions in Australia and we expect it to continue that way into Spring,’’ he said.
“Our pipeline of stock coming to market is really strong. There are some high-quality properties and we’re finding a lot people do wait until Spring to sell because it’s traditionally the strongest time of year for owner occupiers who are keen to move — it means a sale by the end of the year.”
Spring is the perfect time for sellers Wendy and Owen Erglis to show off their Newmarket home which will be auctioned today.
Mrs Erglis bought the home, which has a beautiful garden, in 1990. She said at the time it was a little square box, “an absolute dump’’ but they had spent the past almost three decades turning it into the impressive home it was now.
“All the garden work we have done ourselves and no one has helped us, we have learnt along the way.’’
The home was moved toward the back of the block allowing for about 400sq m of garden out the front. In the backyard there is a “secret garden’’ through an archway dropped in a passionfruit vine, where there is a vegetable garden, plus a lemon, lime and mandarin trees as well as a couple of finger limes.
Marketing agent Ian Cuneo of Ray White Ascot said the home, at 36 Wilmington St, was looking good for this time of year.
“Definitely that is a positive for this time of year, we are just popping out of that chilly night sort of thing and seeing new growth in plants so they do look healthier, it does present a home in a better light, there is no doubt about that.’’
Originally Published: http://www.weeklytimesnow.com.au