ALMOST $53 MILLION WORTH OF PROPERTY SOLD IN BRISBANE AUCTION WEEKEND

An eye-watering $52.8 million in property has sold under the hammer in just one day across Brisbane, resulting in one of the most successful Saturdays for real estate in more than six months.

According to the latest data from Domain, 89 auctions were reported on across the Queensland capital on Saturday, with 65 selling for a median price of $1,057,500 and a clearance rate of 73 per cent.

The previous record for the past six months was $35.275 million, achieved on March 20, according to Domain records.

The data paints a compelling picture of market strength that property experts say reveals more than just the level of buyer and seller confidence, but also the potential end to more than 12 months of record-low stock levels.

Place Estate Agents Ascot director Drew Davies, who transacted the highest recorded sale across Brisbane on Saturday, said the city’s fast-moving market was showing no signs of slowing and was now being spurred on by increased vendor confidence.

“Last month, our office had its biggest listing month in quite a while, so we have definitely seen stock levels ease up after Easter, but we’re still not seeing pre-COVID numbers,” Mr Davies said.

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