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Auction results defy expectations of a sluggish market!

ByCathy Pieroz
I know a lot of clients think that auctions are just for the prestige end of the market place, however you may change your mind if you look at our results.
You are probably aware that the Ray White Group in the Redlands runs a monthly in room auctions at Sirromet Winery and the last event on 8th November was a cracker!  Our office in Alexandra Hills had 3 homes presented for auction that night and we had 2 of them sell under the hammer!
 The first property at 575 Mount Cotton Rd Sheldon (a 5 acre property on the boarder of Capalaba) had over 30 inspections and 20 phone and email enquiries and we had multiple registrations plus many conditional buyers attending on the night.  The owners were thrilled with the result which saw the property exceed the reserve set.
The second property at 44 Pentecost St Redland Bay had 2 bidders who actively competed, one was an owner occupier,  the other an investor. The investor won the property on the day and the happy sellers now living in Cairns breathed a sigh of relief to have their property sold unconditionally!
The last property at 11 Amethyst St Alexandra Hills has had a few offers and should have a sold sign up any day now.
It is also interesting to see that Ray White Alexandra Hills has had 3 record months in a row. August, September and October have shown that both buyers and sellers are showing a renewed confidence and taking the plunge into property ownership.
This could be a result of the Qld Government changes to first home buyers grant, reinstatement of stamp duty concessions coupled with interest rates remaining stable and an all time low. This market at its current price level is proving to offer exceptional value and I can see good signs of capital growth in the coming years, from the right properties.
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