21 September, 2018     Posted in: Newslink

More than 200 people turned out to bid on 23 properties which went under the hammer last night at Place Bulimba’s first All Star Auction event to welcome the spring selling season.

There were 47 registered bidders ahead of the massive auction evening and Place Bulimba Principal, Paul Curtain, said 75 percent of properties were either transacted or had bidding activity on the night.

“Around $10 million changed hands on the night, with another $10 million currently being negotiated following bidding activity, which is expecting to be wrapped up within the next 24 hours to 7 days,” Mr Curtain said.

“Last night saw eager crowds, great bidding activity and an all-round lively atmosphere, evidencing sound conditions of the Brisbane market.”

One property in particular achieved an outstanding result – R’air at 3/46 Main Avenue, Balmoral, which sold for $3,350,000, after great bidding activity from two registered bidders and short negotiation.

The property’s vendor, Grant, was pleased with the result.

“Place Bulimba put on a very exciting and professional mega auction last night. The atmosphere was positive and at times electric,” Grant said.

“We were delighted with the outcome and are about to settle on another property, also purchased through Place.”

Mr Curtain claimed spring is widely regarded as a promising time of year for real estate, with past auction clearance rates sharply trending upwards.

“Bordering Winter’s end and Spring’s arrival, we have identified a captive window of four to five weeks which presents a great opportunity to deliver meaningful campaigns for our clients,” Mr Curtain said.

“We had no doubt bidders had come forward because of the nature of the evening and we were thrilled to see such large attendance on the night.”

“Due to the success, we will be hosting another All Star Auction on November 15.”

High res photos can be viewed here.