Uncertainty over interest rates and political turbulence has not deterred Australian property buyers in south-east Queensland, where auction clearance rates reached 61 per cent over the course of last week.
Jason Andrew Auctioneers director Jason Andrew told Real Estate Business buyer confidence seemed high despite some negative factors in the economy as a whole.
"We are particularly noticing an increase in overall activity in Brisbane's inner ring, where a shortage of quality stock is netting some healthy results," Mr Andrew added.
He described the data as "encouraging" overall after Queensland endured a reasonably difficult year over 2011.
Active buyers have already adapted to the prospect of banks altering their interest rates outside of the Reserve Bank of Australia's monthly decision, concluded the director.
Real Estate Institute of Queensland chief executive Anton Kardash recently suggested that the state's property market could be stabilising after being weakened by last year's natural disasters.
Posted by Steve Douglas
