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Auction trends in Queensland are currently showing a slower clearance rate, but that is not the case for the Ray White Group.
Ray White Queensland auction data for the week ending Sunday, 15 July, shows that 53 properties went under the hammer for a clearance rate of 51 per cent.
In the same period, CoreLogic reported a Queensland preliminary clearance rate of 35 per cent from 112 properties and Domain reported 37 per cent clearance in Brisbane.
Ray White Queensland chief auctioneer Mitch Peereboom said that the results, particularly the clearance rate of 60 per cent on Saturday, was pleasing.
“What we saw on Saturday was the emergence of buyers who are actively bidding,” Mr Peereboom said.
Mr Peereboom added that buyers were getting involved, but the real winners were the sellers.
“The real winners are the sellers who have had offers prior to auction because they’re recognising when the right offer comes along on the day,” the chief auctioneer said.
While the prices aren’t rising just yet, the market is showing a return of confident buyers, according to Mr Peereboom.
“We’re engaging buyers and we’re also seeing buyer confidence, which hasn’t necessarily transferred to prices rising, but we are seeing properties sell.”
Mr Peereboom said that the auction results were due to investment in good staff and their processes.
“Our training is around buyer engagement and how we bring that to the table for our sellers and how we create competition,” Mr Peereboom said.
The high clearance rate not only showed buyer confidence but also that the group’s processes were ahead of the industry.
“The ability to create competition in any marketplace is the most important skill an agent has because that’s how we get the best result and the best prices,” the chief auctioneer said.
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