00:01Around 50 people watch on as more than a dozen bidders jostle for a brand new build in Brisbane's south.
00:07Second call, a $2 million the bid, yep $25 there.
00:11This four bedroom home sold after auction for $2.15 million, helping lift Brisbane's clearance rate from one of its
00:18lowest points in years.
00:20The market has slowed down and buyers have very much become empowered.
00:2443% of auctions had a successful result last week, up from just 23.5% the week before.
00:32Overall, the market hasn't caught up with this time last year, when clearance rates were at 63%.
00:3832-year-old Nicole Penghillie has just bought and is about to move in to her first home.
00:43I am most looking forward to never having to move again.
00:46She tried to buy two years ago, but every open home she went to was crammed with buyers.
00:50When I was going to open homes this time, there would be far less people there and the real estate
00:57agents were kind of more pursuing you more this time around.
01:01Agents say property investors have taken a step back, spooked by changes to housing taxes in the federal budget.
01:07The immediate effect is 50%, nearly 50% of all of our buyers have basically left the room.
01:13But realtors don't think house prices are going to fall because of strong population growth from interstate migration.
01:20The Olympics is around the corner, so we desperately need more tradies and we are expecting that population growth to
01:27continue.
01:28We are definitely still seeing a large migration. 95% of our buyers are migrating buyers.
01:33A better market for first home buyers, but only if they can afford the price of entry.
01:38Based on the military.
01:40Are you looking for that?
01:41Are you looking for that?
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