Homes under the hammer: Cairns prepares for city’s biggest-ever auction

The biggest auction event ever held in Cairns will see 18 homes go under the hammer in one evening, with everything from units and land to luxury homes putting the market to the ultimate test.

20 properties will be available to purchase at Ray White Cairns auction and gala night at Cairns Pullman International on April 22.

The biggest auction event in the history of Cairns will see 18 homes go under the hammer in one night.

Ray White, which rebranded from RE/MAX late last year, will host the mega sell-off on Monday April 22 at Pullman Cairns International.

The properties from Edmonton to Palm Cove will include units, land and luxury homes.

Ray White Cairns Beaches principal Joseph Indorato said there was something for everyone.

“The property list ranges from Public Trustees on the lower end to then the higher end at almost million-dollar houses, so there’s certainly a lot of variety for people to look at,” Mr Indorato said.

“There’s something for everybody. We’re going to livestream the event and there will be flexibility to bid in the room, over the phone or online.”

Mr Indorato said buying at auction was preferred by some buyers, as opposed to buying through private treaty.

Ray White principal Joseph Indorato said there would be something for everyone at the Ray White gala and auction night at Pullman Cairns International on April 22.

“It can be favourable if it’s the right property,” he said.

“You might miss a purchase, particularly in the current market which is very tight.

“In private treaty, you can be competing against a lot of other people at unknown prices whereas at an auction, the property is guaranteed to be yours.”

The current median house price across the Cairns region as a whole is $550,000, up 5.8 per cent over the past year and 39.2 per cent in five years, while median days on market is 37 days.

The median unit value is $335,000, according to the latest REA Market Trends report.

But Cairns has traditionally not been a strong auction market, with Mr Indorato saying the local market had tended to favour private treaty.

36 Silky Oaks Court, Mooroobool will be available to purchase at Ray White Cairns auction and gala night at Cairns Pullman International on April 22.

He said Ray White, as a franchise, had always been strong on auctions, particularly onsite.

“Ray White as a group has always been strong on auction property,” he said.

“We’ve always done some auction properties hoping to increase the competition, value and price for the owner.

“At auctions, you have a result at the end of the day so we see that as a positive aspect and something we’ll be pushing further.”

Real Estate Industries Queensland Zone Chair for Cairns Tom Quaid said it would be interesting to see how the auction played out, given Cairns had not been a strong auction market.

“If the market continues to stay on the lines of continued high demand and tight supply, we’ll see more (auctions) come through as owners take advantage of the competition among buyers,” Mr Quaid said.

84 Cairns Street, Cairns North will be available to purchase at Ray White Cairns auction and gala night at Cairns Pullman International on April 22.

“For the Cairns market, we’ve had times where a property is very unique, where you know people are going to be interested and it’s within a price range where people are generally financially capable. Those times are absolutely appropriate for an auction.”

Of the 20 properties listed, 18 are still available for purchase on the night.

“We’ve got a good line up, a couple of properties have already been sold prior to the auction which is a great result,” he said.

Mr Indorato said Ray White chief auctioneer Gavin Croft would fly in for the event.

He said there would also be opportunities for potential buyers to speak with local businesses including mortgage brokers on the night.

“We’ve got a couple of displays from key vendors such as mortgage brokers and pest inspectors who may want to speak to potential purchasers,” Mr Indorato said.

To register for the auction, visit the Ray White website.

Originally published as Homes under the hammer: Cairns prepares for city’s biggest-ever auction