More homes on sale in Brisbane than Sydney as confidence returns

IF YOU’RE in Brisbane, you or someone you know might just be attending one of these this this weekend.

A RECORD number of properties for 2014 will go under the hammer in Brisbane this weekend as the Queensland real estate market continues its spring bloom.

More than 100 properties are listed for auction in Brisbane and 200 across Queensland. The average number of properties up for auction is usually between 30 and 40.

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Queensland has also eclipsed the other states for more homes listed for sale. And land sales are also on the rise in the state.

The auction boom this weekend is largely being ­attributed to a Ray White event where 50 properties are up for grabs. Agents say pro-auction sentiment is also rising in Brisbane, where ­traditionally only 10 per cent of listed properties go under the hammer.

Real estate analysis firm RP Data found 64,570 residential properties were listed for sale in Queensland over the four weeks to October 19, prompted by a combination of the traditional spring rise and sellers capitalising on higher prices.

In NSW, where the property market has run hot for several months, 57,722 residential property listings went up, while in Victoria there were 57,974 listed for sale.

A big part of the surge was driven by buyer confidence in “getting a better price now than six months ago”, Housing Industry Association chief economist Harley Dale said.

“It would appear you are seeing proportionally more of that spring rise this year than over the past few years,” Mr Dale said. “There is greater confidence.”

Analysis firm SQM Research founder Louis Christopher said Brisbane was in a peak buying season.

“Activity is generally October to November. We start seeing listings fall away over Christmas, then open again in February,” he said.

Malcolm and Julie Connell are auctioning their East Brisbane home of 35 years.

Anthony and Allie Lee are auctioning their Norman Park home this weekend.

Two families, two listings, too hard to leave

ANTHONY and Allie Lee bought a 20-year-old Norman Park house five years ago, and turned the 1134sq m site into a modern five-bedroom, three-bathroom dream home.

At 10.30am tomorrow, their home at 7 Wendell St goes under the hammer at the Emporium Hotel.

“We’re on to a new stage of our lives,” Mr Lee said.

“We’re hoping to go west. It’s a mix of emotions of being sad to leave and excited about what’s ahead.”

Meanwhile, Malcolm and Julie Connell ­expect there will be tears when their home at 14 Blackall Terrace, East Brisbane, of 35 years goes up for auction at noon today.

“It will be very, very sad to move out of East Brisbane,” Mr Connell said.

The empty-nesters are planning to find a larger piece of land in a country setting.

“We’re not really going to retire, but it will be a change of lifestyle.”