Ray White Queensland chief auctioneer Gavin Croft said the “long and extended journey of low stock volumes and high demand” continued to persist.
“But we're starting to notice a shift or a change coming through with more availability on offer. Next weekend, the Ray White Queensland group has 125 auctions going up next Sunday at the Howard Smith Wharves with bookings flowing through to August.
“We're seeing a rise in auction volumes coming through to the marketplace and that means sellers will have to be more considerate with their thinking around their sale price.
“More auctions give buyers more choice and a more balanced market is what we're forecasting for the second half of the year. But right now we’re still in a wonderful marketplace in Brisbane.”
Mr Croft said his highlight today was 13 Dolphin Street, McGregor, marketed by Michelle Lee from Ray White Rochedale which sold under the hammer for $1,153,000 with five registered bidders.
Meanwhile the top agency in Queensland today sold almost $30 million worth of Brisbane property with luxury inner city units in high demand.
Ray White Collective principal and auctioneer Haesley Cush said he had never seen such strong buyer demand with the group reporting an 83 per cent campaign clearance rate.
“We had 85 registered bidders here today, all vying for their slice of the Brisbane property market. This market is on fire, there’s never been a better time to sell.”
The highest price sold under the hammer was the stunning ground floor unit on the Brisbane River at 5/27 Vernon Terrace, Teneriffe which sold to a local buyer for $3.9 million.
There were a whopping 23 registered bidders all keen on 5/115 Berry Street, Spring Hill which sold for $803,000.
“What surprised me the most about today was the sheer number of registered bidders. The first and second lots had 10 registered bidders on them and lot 15 had 23 bidders. The room was heaving with people. It was like huge waves of people kept coming into the room, waves of buyers flowing in.”
For the first time ever, the Collective team had two interpreters in the room to assist buyers. Team member Bowen Wang spoke Mandarin while leasing specialist Sukhraj Singh Nijjar welcomed everyone in Hindi and was on hand to help Indian buyers.
“We certainly had lots of Chinese and Indian people in the room who took advantage of the service too. These are the two largest groups of migrants now in Australia and we’re happy to help them.”
Ray White Collective principals Matt Lancashire and Haesley Cush just after their latest successful in-room event where they sold almost $30m worth of property in just 1.5 hours.
Address | Sold Price |
|---|
3/40 Querrin Street, Yeronga | $1,269,000 |
|---|
81 Gordon Street, Hawthorne | $3,445,000 |
|---|
15/161 Main Street, Kangaroo Point | $722,500 |
|---|
5/27 Vernon Terrace, Teneriffe | $3,900,000 |
|---|
178 Hargreaves Avenue, Chelmer | Passed In |
|---|
42/36 Vernon Terrace, Teneriffe | $2,100,000 |
|---|
42 Fletcher Close, Camp Mountain | Passed in |
|---|
14 Ernest Street, Camp Hill | Passed in |
|---|
47 Leura Avenue, Hawthorne | $2,180,500 |
|---|
79 Charlton Street, Ascot | Passed in |
|---|
31 Sargent Street, New Farm | $2,700,000 |
|---|
201/8 Skyring Terrace, Teneriffe | $1,045,000 |
|---|
9 Larwill Avenue, Northgate | $781,000 |
|---|
57 Virginia Avenue, Hawthorne | $3,115,000 |
|---|
5/115 Berry Street, Spring Hill | $803,000 |
|---|
Total | Just shy of $30,000,000 including sold priors |
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