Published July 28, 2024
Brisbane 100 Raises The Bar
A staggering $75.250 million worth of property changed hands today in six hours at Ray White Queensland’s huge Brisbane 100 in-room auction event at the Howard Smith Wharves, which shows the unstoppable strength of the local property market.
There was a full buffet of properties on offer from beachfront units on the Gold Coast to inner city houses plus vast rural properties.
Some 30 Ray White offices came together to sell 112 properties across south east Queensland. The Brisbane100 auction event cleared around 70 per cent on the day.
The top auction sale under the hammer was 1142/1126 Mount Walker West Rd, Mount Walker West which sold for $9.8 million to a local family.
The mixed farming property on 872.91ha was marketed by Neil Mundy of Ray White
Ipswich and attracted four registered bidders who all had a bid.
The bidding opened at $7 million and jumped quickly to $8.5 million where the auction paused.
The winning bidder then increased their bid to $9.8 million and the property sold under auctioneer Phil Parker’s hammer.
Ray White Ipswich principal Warren Ramsey said the seller Charlie Mort, who owns Mort & Co, the largest and most experienced feedlot manager in Australia, was happy with the result.
The event attracted some 402 registered bidders and 282 active bidders but the one single property with the highest number of registered bidders at 14 was 4 Cangella Court, Tugun which was marketed by John Parkes and Georgia Lazzaro of Ray White Tugun | Elanora and sold under the hammer for $1.472 million.
The online bidders were watching from as far away as Asia, according to AuctionsLive data.
Ray White Queensland CEO Jason Andrew (pictured above) said the south east Queensland property market was experiencing remarkable strength and resilience, buoyed by a combination of factors that continue to drive growth and confidence.
“Brisbane has become a focal point for both domestic and international investors, with its relatively affordable prices compared to Sydney, making it an attractive option for a diverse range of buyers.
“This property market is thriving, characterised by high demand, significant investment, and ongoing infrastructural improvements, making it a vibrant and dynamic environment for real estate.”
Ray White Queensland Chief Auctioneer Gavin Croft said the Brisbane 100 auction event was a significant event on the calendar for the group, signifying 100 years since Ray set up here in Brisbane from Crows Nest.
“Auctions have been extraordinarily important to us from the very beginning so bringing together some of the best auction agents right across south east Queensland is exciting,” Mr Croft said.
“We had properties ranging from affordable apartments, to acreage, sophisticated rural assets and everything in between. There has been a wonderful selection for buyers right throughout south east Queensland.
“It’s also been a wonderful chance for observers or potential home sellers to feel the energy and pulse of the south east Queensland market and predominantly Brisbane. It should give them a wonderful insight into the year ahead.
“To start off the year, supply has been limited for buyers but we are starting to see it open up so for buyers it’s a wonderful opportunity.
“To be able to get more than 100 properties going under the hammer in one day, in one location, is amazing.”
Buyer Luke McCandlish (pictured above) attended the day’s event expecting to bid on a property offered through Ray White Wilston’s Holly Bowden but left as the happy new owner of a townhouse in Windsor.
The four bedroom townhouse was marketed by Ray White New Farm’s Pat Goldsworthy and sold for $1.3 million.
“I owned a penthouse in Albion jointly with a friend but sold it last October and have been renting and looking for something to buy since then,” Mr McCandlish said.
“What led me to this townhouse was a friend who looked at unit three which sold six months ago and they told me how much they loved the complex so when this one came up, I wanted to check it out.
“I’ve bought at auction before but never at an event like this. It was a bit daunting because everyone’s eyes are on you but it was a great experience and I’m thrilled.”
Ms Bowden’s 88 Swan St, Gordon Park sellers were over the moon after a successful campaign that saw them sell their investment property for $1.395 million. Karen and Owen Lohrey (pictured above) had been speaking with the Ray White Wilston elite agent for the past five years and with retirement on the horizon they felt now was the right time to sell.
The rare gem at 27 Rosina St, Kangaroo Point sold for $1.725 million through Ray White Inner Brisbane Apartments principal Colin Walsh. This property on 604 sqm of prime real estate with city views was one of the very few large and flat blocks available in this prestigious inner city area. The buyer had been looking for a bigger block of land and was relieved to finally find something after more than a year and a half of searching.
