Mega-auction charity event nets $79m in sales in one day

It was one of the largest auction events in Australia, and Harcourt’s inaugural Blue Friday has been dubbed a “massive success”.

Created to help kickstart the spring selling season, there were more than 500 properties around the country listed as part of the charity event, raising money for Beyond Blue.

With many selling ahead of the auction, 325 properties went under the hammer on Friday – mostly residential homes, with a few commercial and rural properties up for grabs too.

“The whole intention of doing Blue Friday when we did was to bring properties to market prior to spring,” said Harcourts chief executive Adrian Knowles, “[and] to give our vendors the best opportunity to get the best price. It’s been a massive success.”

“Not only is it Australia’s biggest auction, but it is also a critical time for the market.”

Hundreds of registered bidders attended in-room, in-office and on-location auctions held in NSW, South Australia, Victoria, Queensland, Western Australia and Tasmania, with $79.3 million worth of property sold on the day.

“Buyers turned out in force across the whole country, which was not unexpected, but it was unexpected at the level at which we had,” Knowles said. “There were nine properties out of all our properties that didn’t have a bidder.”

“There was some extraordinary bidding,” Knowles said. “It blew me away.”

The longest bidding battle on the day spanned more than 20 minutes, with bidders on the phone and in the room vying for 26-28 Verran Street in Queensland’s Bellbird Park. Set over two storeys, the property had two four-bedroom duplexes on 3500 square metres.

There were no doubt a few hoarse voices by the weekend, with two Harcourts auctioneers in Queensland handling a whopping 220 auctions between them.

The $3 million sale of a luxurious five-bedroom property, 88 Vise Road in Buderim, was the event’s top result.

Three properties side by side, 30-34 Annie Street in Woody Point in Brisbane’s north, sold ahead of auction for $800,000 each.

Harcourts principal Steve Hawley said the properties were scooped up by investors. “They will be looking to do something down the track but for now, they’re going to hold on to them for a few years,” he said.

The Blue Friday preliminary clearance rate was approaching 60 per cent, with negotiations still underway on Monday.

Knowles said the national housing market was strong, driven by low supply.

“The eastern seaboard is right back into the swing of the market,” he said. “South Australia saw excellent clearance, selling 27 from 42 properties. The issue was stock. They were struggling to get properties to market.”

The event raised more than $80,000 for Beyond Blue.

Knowles said the cause was “close to me and my heart, with close friends and relatives suffering from anxiety and depression. But it is also prevalent in our industry.”

Real estate agents have a high churn rate compared to other industries, he added.

There are already plans for next year’s event to be even bigger. Knowles said Blue Friday would go international in 2024, with auctions in South Africa, USA and New Zealand.