Ray White Queensland bucks auction trends

RAY White Queensland has kicked off the new financial year with a large number of auction results bucking industry trends.

Ray White Group auction data for the week ending Sunday, July 15 shows 53 Ray White Queensland properties to have gone under the hammer with a clearance rate of 51 per cent.

In comparison, CoreLogic reports an overall Queensland preliminary clearance rate of 35 per cent from 112 results available for the same period. Domain reported 37 per cent clearance in Brisbane.

Ray White Queensland chief auctioneer Mitch Peereboom said the results, particularly a Saturday clearance rate of 60 per cent, were extremely pleasing.

“What we saw on Saturday was the emergence of buyers who are actively bidding,” Mr Peereboom said.

“Buyers are getting involved and are willing to put offers on the table. 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. 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 Ray White Queensland’s leading auction results reflect an investment in strong staff systems and 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 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. A clearance rate of 60 per cent on Saturday is indicative of buyer confidence, meaning the process being run correctly by the group compared to the industry.”