Positive start auctions for Brisbane 2022, and a FOMO element for Buyers and Sellers.
The 2022 home auction year has commenced on a positive note for most early-season sellers despite ongoing covid distractions and concerns. There’s still an element of FOMO [fear of missing out] on the part of buyers who missed out on buying their home last year. And now there also seems to be an element of FOMO on the part of sellers with some vendors thinking ‘I’d better sell now, or I’ll miss out on these high prices.’
This leads the auction markets to start on a high note. However, the results continue to reveal a significant disparity between capitals, with the two-speed national housing market that emerged over 2021 enhanced by Saturday’s results.
Adelaide, Canberra, and Brisbane clearly remain in boomtime mode reporting more strong clearance rates at the weekend, with Melbourne and Sydney – while still positive for sellers generally, continue to report rates well below the record results of last year.
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