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Grand finals push property market aside

By Ben Faulks

What does Australian Rules Football and Rugby have to do with Belconnen real estate? Quite a lot, apparently.

The grand finals of both sports landed on the same weekend, and were destined to making it the most important one for Australian sport this year. As the Hawks took on the Eagles on 3 October, the Broncos and Cowboys clashed heads the day after.

Hordes of Australians all around the nation put their weekend on pause to watch one of both of these finals. This combined with the Labour Day holiday lead to the auction market seeing a huge dive in activity over the long weekend.

Across the capital cities, 841 properties were listed for auction, with only 69.6 per cent of those preliminarily cleared. This is a stark contrast to the weekend before which saw more than three times that number (2,835).

Thanks to the AFL Grand Final being held in Melbourne, the city recorded the most dramatic fall in auctions. While 1,201 homes were put to auction over the previous weekend, only 90 were listed in this one.

Canberra registered 13 auction results with a preliminary clearance rate of 53.8 per cent. Still, this is a good jump from the 29.3 clearance rate just a year ago.

Since then, real estate activity has returned to full health and are blooming in the spring market. In the weekend of 11 October, 3,062 homes went to auction across the capital cities. Canberra also returned to fighting form, with 65 auctions being held.

Real estate in Belconnen

Now that an exciting season of AFL and NRL have gone and past, the property market is back in shape. If you're after Belconnen houses or apartments, Give Ray White Belconnen a buzz.

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