Brisbane auction clearance rate slumps to nation-low 24pc

30 Matong St, Hendra Brisbane has recorded the nation’s worst auction results, with a $5.5 million Hendra sale highlighting new builds as a rare hotbed of demand in an otherwise sluggish market. Ray White Group data shows the River City’s weekly auction clearance rate slumped to just 24.1 per cent – a sharp drop from 35.4 per cent last week and well below the 76.6 per cent recorded at the same time last year. The result marks the lowest clearance rate of any capital city, trailing Perth (28.6 per cent) and Sydney (34.3 per cent) and well below the national clearance rate of 36.2 per cent. Luxury finishes inside the newly completed home by builder Sabdia But deep-pocketed buyers were still out in force at Ray White Collective’s Calile Hotel auction event, which racked up $15.46m in total sales. The headline result was a newly completed home at 30 Matong St, Hendra by luxury builder Sabdia. It drew five registered bidders and fetched $5.5m under the hammer. Ray White Collective principal and auctioneer Haesley Cush said “turnkey” properties remained highly sought after amid crippling construction costs. “It’s undoubtedly the strongest part of the market right now, off the back of hig...