Under the hammer: Auction event set to draw a crowd

A recent auction event in Cairns.

One of the most anticipated events of the Cairns property calendar, the Ray White Gala Auction Event, will be held again this month, with 50 properties set to go under the hammer.

Holding three auction events a year,
Ray White Cairns, Cairns Beaches, Smithfield and Palm Cove director David Murphy said the past events had been a huge success.

A recent auction event in Cairns.

“The results speak for themselves – with clearance rates consistently outperforming broader market trends, even exceeding those in auction-centric cities like Brisbane and Sydney,” Mr Murphy said.

“Our last event achieved an impressive 70 per cent clearance rate, with more than $14m worth of real estate sold unconditionally in a single evening.

“These events offer sellers unmatched exposure, thanks to our extensive multichannel marketing push, alongside full live streaming capabilities for interstate and international buyers.”

115 James Cook Drive, Kewarra Beach is going under the hammer on May 19.

Mr Murphy said beyond the numbers, the stories that emerged from these nights were what made them special.

“At our most recent event, a buyer who missed out on their registered property ended up securing an entirely different one they hadn’t even considered – a testament
to the power of having such a broad range of quality stock showcased at once,” he said.

“These nights bring a concentrated pool of serious buyers together and shine a spotlight on the strength and desirability of Cairns as both a lifestyle destination and an investment hotspot.”

14 Chandos Brace, Smithfield is going under the hammer on May 19.

The Cairns region has seen significant price growth, with houses achieving an average of 7.5 per cent growth and units achieving an average of 10.3 per cent growth.

Ray White Group senior data analyst Atom Go Tian said prices in Cairns’ beachside suburbs continued to reflect the appeal of the tropical Far North Queensland destination.

“Average house prices range from $723,399 to $873,161 with one-year growth rates of 7.0 per cent to 8.3 per cent, while unit prices span $405,880 to $527,135 and have seen stronger growth rates between 9.1 per cent and 11.7 per cent,” Mr Go Tian said.

Aerial photo of housing at Trinity Park.

“Yorkeys Knob-Machans Beach emerges as the standout performer, recording the highest growth for both houses (8.3 per cent) and units (11.7 per cent) despite having the lowest house prices.

“This northernmost area, with its direct beach access and proximity to the Great Barrier Reef, continues to attract tourists and investors alike.

“Trinity Beach-Smithfield combines prime beachfront living with convenient access to James Cook University and major shopping centres, justifying its premium pricing ($804,922 for houses) and solid growth metrics.

A recent auction event in Cairns.

“Meanwhile, Clifton Beach-Kewarra Beach, renowned for its upscale properties and tranquil atmosphere, commands the highest unit prices ($527,135) despite showing more modest growth rates.

“Cairns City itself maintains steady growth (7.1 per cent for houses, 9.5 per cent for units) as the region’s commercial hub, offering urban amenities while providing easy access to the area’s spectacular natural attractions, including World Heritage rainforests and reef departure points.”

Some of the property highlights of the event include 115 James Cook Drive, Kewarra Beach, and 14 Chandos Brace, Smithfield.

The Ray White Auction Gala Event is on May 19 at The Pullman International from 4.30pm

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