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Brisbane’s auction hot spots: The suburbs where you’re more likely to sell your home at auction

first_imgThis house at 9 Rugby St, Coorparoo, is going to auction.Mr Lloyd said the brand new five-bedroom, three-bathroom house on a 728 sqm block was the perfect family home and could not be in a better location.“Coorparoo is just a fantastic suburb,” he said.“It’s got the new Coorparoo Square going in, it’s close to the city and the Gabba, and is very good for families.”Mr Lloyd admitted he was initially hesitant about taking the property to auction.“There’s a lot of buyers out there looking for good products and the best way to realise true market value is through an auction,” he said.“It gives it a clear time frame and a bit of urgency for potential buyers.” NEW WAY TO PAY FOR RENTALS The new Coorparoo Square development in Coorparoo. Picture: Brian Bennion.Across the regions, auction volumes fell on the Sunshine Coast, while the Gold Coast was the busiest market with 752 homes going under the hammer.Despite this, the Gold Coast recorded the lowest success rate during the quarter of 39 per cent.BRISBANE’S AUCTION HOT SPOTSSuburb Clearance rate (Dec. Q) Total auctions (Dec. Q)Coorparoo 63.0% 32Ashgrove 61.5% 28New Farm 57.1% 22Paddington 52.9% 38Clayfield 51.9% 31Bardon 48.0% 32Morningside 47.6% 22Camp Hill 47.2% 36Calamvale 45.5% 22Eight Mile Plains 45.5% 35Cleveland 45.0% 25Bulimba 45.0% 20Ascot 45.0% 21Sunnybank Hills 43.9% 60Hamilton 43.5% 23Hendra 37.0% 30Sunnybank 25.0% 20(Source: CoreLogic) Crowds gather at an inner-city house auction.Marketing agent Phil Burley of Place Bulimba said auctions were becoming more popular among buyers and sellers in Brisbane’s inner-city market.“I think the whole inner-city market is more comfortable with buying and selling at auction,” Mr Burley said.More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours ago“Sellers in particular are more and more comfortable to let the market determine the value of their property, which has been a reluctance in the past.”He said he was not surprised Coorparoo had the highest auction clearance rate in Brisbane, given the quality of homes and schools in the area and new developments like Coorparoo Square. Rebecca and Michael Lloyd with Boston 7yrs at their Hamptons-inspired home at 9 Rugby St, Coorparoo which will go to auction at 11am on February 10. Picture: Annette DewBRISBANE’S auction market is outperforming the rest of the country, with new figures revealing it was the only capital city, besides Adelaide, to record a rise in its clearance rate last quarter. And the city’s new auction hot spots are no longer the usual blue-chip suspects, with homes more likely to sell under the hammer in suburbs such as Coorparoo, Calamvale, Morningside, Sunnybank and Eight Mile Plains.While the number of homes selling at auction across the country fell in the three months to the end of December, Brisbane bucked the trend, according to the latest figures from property analytics company CoreLogic.Sydney led the overall decline, with its auction clearance rate plummeting from 66.8 per cent to 57.7 per cent — another indicator the country’s biggest housing market is cooling — while Brisbane recorded a 0.2 per cent rise in its success rate to 46.7 per cent.After Sydney and Melbourne, the Queensland capital also had the most auctions during the December quarter, with 2012 properties. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE CoreLogic’s latest auction review reveals the national clearance rate has fallen.More homes were taken to auction in Sunnybank Hills than anywhere in Brisbane in the final quarter of 2017, while Coorparoo saw the most properties sell at auction; recording a clearance rate of 63 per cent.Just 5km from the CBD, Coorparoo has a median house price of $860,000.Michael and Rebecca Lloyd’s Hamptons inspired home at 9 Rugby St, Coorparoo, is scheduled to be auctioned on Saturday, February 10 at 11am. HOTTEST RENT SPOTS REVEALED last_img read more