Strongest month ever – $54M in prestige sales

The perfect storm. There’s really no better way to describe last weekend’s Prestige Auction Event at The Calile Hotel which saw my team alone sell more than $34 million worth of real estate.

Filling the room on Saturday were willing buyers with budgets to purchase from a handpicked selection of Brisbane’s best properties, and sellers benefiting from high demand and low stock volume.

Transacting six from eight listed properties, either before or at the event, was exactly what we expected to achieve despite rumoured uncertainty around interest rate rises.

My team has recorded its strongest unconditional month to date, selling 11 properties totalling $54.486 million, all to local buyers bar one.

Expats returning home and interstate parties who put up a mighty fight have failed to outbid local money, which means Brisbane buyers have the budgets and now the understanding of value and the requirement to compete

Saturday’s room was electric, kicking off with the $7 million sale of 48 Teneriffe Drive, Teneriffe, but that’s exactly what we expect at our prestige auction events.

Our November sales, below, demonstrate the strength of the Brisbane market:

45 Glencairn Avenue, Indooroopilly // $9.25M

52 Toorak Road, Hamilton // $7.55M

48 Teneriffe Drive, Teneriffe // $7M

27 Elystan Road, New Farm // $6.2M

53 Mountford Road, New Farm // $5.89M

23 Hazlewood Street, New Farm // $4.5M

1 Royston Street, Brookfield // $4.2M

24 Butler Street, Ascot // $3.36M

200 Heal Street, New Farm // $3.101M

46/208 Adelaide Street, Brisbane City // $1.9M

5331/66 Lamington Street, New Farm // $1.535M

For the month of November as a whole, Ray White Collective has sold more than $190M worth of stock.

This is yet another reminder of the remarkable depth of our impressive local high-end market and its increasing dominance on a national level.

I hope you enjoy the read.

Matt Lancashire