Interest rate fears hit Brisbane’s home auction sales with 40 per cent yearly drop

Brisbane’s clearance rates for the first week of spring dropped more than 40 per cent from the same time last year, thanks to fears of yet another interest rate hike. REA data put the city’s clearance rate at around 20 per cent, down from 63.9 per cent that week in 2025. Queensland’s clearance rate only fared a little better, falling from 59 per cent last year to 24 per cent this year. Brisbane’s auction clearance rates last week more than 40 per cent from where they were a year ago, according to REA data. Picture: iStock Across 216 recorded homes on the market, only 51 sold during, prior to or after auction. Meanwhile, 165 homes were either withdrawn or passed in. REA senior economist Luc Redman said the small turnout was likely thanks to interest rate fears, with the Reserve Bank of Australia predicted to rise rates at least once more in 2026. “Not only is there basically a guarantee there will be another interest rate hike by the end of this year, there’s an expectation that there will be another one by the beginning of next year,” he said. REA senior economist Luc Redman said fears of another interest rate hike were halting the property market, with home prices continuing to st...