Recent Brisbane Auction Results

Just over a week ago, Ray White had an auction where 12 Brisbane inner city apartments went to auction. Only one sold at auction (1201 in UniLodge for just over $100,000). Over a week after the auction, most of the apartments that did not sell at the auction are still listed for sale. Why vendors decide to go to auction in Brisbane amazes me. These apartments are not selling at the prices listed below, so the market must be saying that they are worth less than this. And why buy an off the plan apartment for more than these prices? Some examples of the many apartments that Ray White was unable to sell:

• Felix, Apt 121, 1 bed, no car - failed to sell at or after auction, now listed for $330,000
• Felix, Apt 147, 2 bed, 2 bath, 1 car, end apartment - failed to sell at or after auction, now listed for $470,000
• Charlotte Towers, Apt 605, 1 bed, no car - failed to sell at or after auction, now listed for $315,000
• Charlotte Towers, Apt 2401, 1 bed, 1 car - failed to sell at or after auction, now listed for at the unrealistic price of $410,000
• Festival Towers, Apt 906, 1 bed, no car - failed to sell at or after auction, now listed for $320,000
• River Park Central - Apt 603, 2 bed, 2 bath - failed to sell at or after auction, now listed for $410,000
• River City, Apt 1803, 2 bed, 2 bath - failed to sell at or after auction, now listed for $433,000
• Aurora, Apt 626, 3 bed - failed to sell at or after auction, now listed for $1,300,000
• Grosvenor, Apt 1504, 3 bed - - failed to sell at or after auction, now listed for $1,800,000