ABOVE: A large crowd bid strongly at the Ray White Know How auction on Friday.
ABOVE: A large crowd bid strongly at the Ray White Know How auction on Friday. Rob Williams

Bidders in on the act as 14 of 17 properties sold at auction

A POST global financial crisis record was attained when 17 properties worth more than $5 million went under the hammer in Ipswich on Friday.

The Ray White Know How auction at the Metro Hotel Ipswich International was attended by more than 200 people and the results were stunning.

Ray White Ipswich principal Warren Ramsey said 12 of the properties were sold under the hammer and two were sold subsequently.

"It was real good," Mr Ramsey said.

"We wrote in excess of $5 million in an hour and three quarters.

"It was a post GFC record."

A deceased estate at 367 Riverside Dr, Pine Mountain was offered as five separate titles, offering three absolute riverfront blocks, one with the original homestead and one with an elevated home site.

The property had been held for more than 80 years by the Bell family and Mr Ramsey said it was no surprise bidding was strong.

"All five of those sold separately," Mr Ramsey said.

Other properties sold included an approved unit site at Workshops St, Brassall and 44ha (110 acres) of rural land at Office Lane, Wanora.

Houses at George St and Cramb St, both Eastern Heights, also sold.

Mr Ramsey said the results were a good sign for the property market that was now experiencing an upward surge.

"There is no doubt the market is on the recovery," he said.

"There wasn't anything absolutely outstanding about a few of those properties but almost everything on the day had registered bidding.

"There were over 60 registered bidders in the room and I reckon there were well over 200 people there."

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