Certainly it was the case in July. We had children bidding on bikes, suits duelling for holidays and home-buyers with paddles raised. Everyone got in on the auction action in July.
The month saw one of the city’s largest gala auctions for the beloved Brisbane Broncos where over 1250 people gathered to support local charities. The night saw over $160,000 raised in the live auction alone including $48,000 for a portrait of the best ‘grand final’ players over the club’s 25 years.
With ice creams in hand, kids and parents alike got involved as another famous New Farm school fete auction went off… A total of $15,000 was raised for the State School.
In my mainstay of property auctions, the last Sunday in July was a very important date on the real estate calendar. A whopping 35 properties went under the hammer with 21 of the 35 selling. These property auctions were the culmination of a month long auction campaign that also saw 12 ‘prestige properties’ being auctioned on the last Thursday of the month. The July 28th auctions were the best I’ve seen since the boom.
Not to forget the scattering of on-site auctions taking place across the city that same week. One of the most notable of these was an extremely rare direct riverfront property with a property mooring at 6 Griffith Street, New Farm. The day of the auction saw many locals descend on the home – a veritable who’s who of New Farm property owners. The opening bid was $3.5million and from there bidding was slick. Bidding rises of $250,000 saw the price reach $5million where, after lengthy discussions, the property was announced “on the market” and eventually sold for $5.2million! The buyers intend to live in the property but haven’t ruled out the prospect of future development.
Whether it was on the back deck, the ballroom or the kids in the schoolyard it was a great month of bidding. The mood around the market is still firm. There seems to be a good level of confidence that things are safe, the number of bidders tells that story. It appears security is what we need to see before things will start to trend back up.