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POWERHOUSE agency Ray White New Farm has just capped off a stellar May with $40M in sales for the month.
The New Farm office held its biennial Auction Under The Stars this week which injected $25M worth of property sales for the month for an enviable 85 per cent clearance rate.
There were 90 registered bidders over 20 properties at the event this week with 198 bids in total, and 16 offers prior.
Now in its fourth year, Ray White New Farm principal Matt Lancashire said every buyer demographic was catered for at their standing-room only carpark event.
“We had buyers in all parts of the market covered, from first home buyer apartments and unrenovated cottages to prestige properties,” Mr Lancashire said.
“It was a massively successful night for Ray White, more than 400 people packed into the venue on Brunswick Street to watch 15 out of the 20 properties up for auction sell under the hammer. Another two properties sold by the next morning after further negotiations.
“Things were a bit quiet in April because of all the public holidays but we’ve now just finished the month of May with a bang.
“There were a lot of buyers hanging out for this event, holding off until last night…it was a great snapshot of all parts of the market.
“New Farm really is out on its own in the property market — it’s one of those areas where people see value in the dirt.”
A run-down cottage on a 354sq m block at 184 Annie Street, New Farm, opened at $500,000 with 22 registered bidders and was fiercely fought out until it sold for $1,340,000.
Other highlights included a four-bedroom, four-bathroom multi-level penthouse in the renowned Bellagio complex on Adelaide Street, Brisbane City, which sold for $3,227,000 and 153 James Street, which sold for over $2.7 million.
