Real Estate
5 December, 2024
$14m go under the hammer
A CENTRAL city property which was last sold 77 years ago was one of more than 34 that went under the hammer at a recent auction.
Nearly $14 million worth of real estate was sold, including the corner house and block at 14 Queen St, Parramatta Park, for $1.03m.
Ray White Cairns director David Murphy said the ‘sold and settled before Christmas’ in-room auction event at The Reef Hotel Casino delivered outstanding results for buyers and sellers, highlighting the strength and diversity of the Cairns property market.
“We are thrilled with the outcome of the event, with nearly $14m worth of real estate sold unconditionally under the yellow hammer and a clearance rate verging on 70 per cent,” he said.
“The event highlighted the strong appetite and confidence buyers have in the Cairns market.
“This auction campaign has highlighted the strength of the local market and the demand for quality properties in our region.”
The auction featured homes of all sizes and price ranges, from the Daintree Rainforest in the north to the Atherton Tablelands. The event also showcased premium properties in blue-chip suburbs such as Edge Hill, Palm Cove and Trinity Beach.
“This unique mix drew interest from a wide array of buyers locally and interstate, resulting in strong competition and exceptional sales results,” Mr Murphy said.
“This event demonstrated the appeal of Cairns as a destination for lifestyle and investment,” he said.
“Whether it’s the tranquillity of the Tablelands, the charm of our coastal suburbs, or the unique rainforest properties, there really was something for everyone.”
Some properties of interest included 6 Trout St, Kanimbla ($1.2m), 11 Old Boar Rd, Lake Barrine ($1.1m) and 9 Ascot Rd, Westcourt ($700,000).
“The success of the event is testament to the power of the auction process and Ray White Cairns’ commitment to supporting their clients,” Mr Murphy said.
“Comparing these results to metropolitan areas, Ray White offices in Brisbane held their ‘Brisbane 100’ auction event the following Monday, with over 100 properties going under the hammer and achieving a clearance rate of 60 per cent,” he said.
“It’s a rare feat for regional FNQ to surpass Brisbane’s clearance rates—an exciting achievement for the region.”
