It’s no secret that auction clearance rates have been on the rise.
According to CoreLogic, clearance rates increased from 49.9 per cent to 55.5 per cent across Australia’s combined capitals between the March 2019 and June 2019 quarters.
And it’s no wonder clearance rates are up, with buyer interest in properties like this Moorooka home at such high levels, it sold in just three minutes.
The two-bedroom, one-bathroom home in Brisbane’s south sold for $720,000 in an insanely quick three-minute auction.
The character home sits on a 647-square metre block, and isn’t far from Brisbane’s CBD.
It boasts polished hardwood floors throughout and a large entertaining balcony, as well as an outdoor kitchen area.
According to Domain, a crowd of 40 watched nine registered bidders battle it out for the character home from a starting bid of $500,000.
Selling agent, Karla Lynch, told Domain that the successful party used Facetime to bid, after showing immense interest since the beginning of the process.
“Parties wanted to purchase it prior, but we thought it would be best to take it to auction and see what the market said,” she said. “It was non-stop.”
Lynch told Domain that Moorooka was the next suburb to boom given its great value, particularly for first-home buyers.
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