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With 17 properties scheduled for auction, the event drew a huge crowd of more than 100 people with five of the properties successfully negotiated before auction with a further seven selling under the hammer; culminating in a 71 per cent clearance rate.
The wide selection of properties drew local and national attention. One property in Cotton Tree held by one family for more than 40 years piqued the interest of serious investors and Sunshine Coast developers. 43 Hinkler Parade, Cotton Tree, is one of the few remaining original Cotton Tree homes and sits on a 678m2 parcel of land zoned medium density.
“Hinkler Parade presented many different opportunities with both mum and dad investors, first home buyers and savvy investors/developers showing interest. We had over 3000+ buyers view the property online and lots of pre-auction interest so we were delighted to secure a fantastic outcome for our seller in the evening.” said James Goldsworthy, auctioneer and director of Ray White Mooloolaba.
Incredibly this particular auction received 104 bids, starting at $500,000 and rising at times in $500 increments to an eventual sales price of $1,531,000. Needless to say the owner was delighted with the outcome and ability to move onto the next stage of his life.
“In 20 years of real estate and as an auctioneer I’ve never seen anything like it. It was unreal, the auction had multiple phases, starting incredibly low, a 21 minute pause as a late bidder arrived mid-auction and a young lady putting in $1,000 bids on multiple occasions right on the fall of the hammer, it was like nothing I’ve seen before,” James Goldsworthy said.
"Overall the energy in the room was electric. We are excited to continue negotiations on those properties that came close to selling last night.
The Ray White Coastal Living Network's intimate knowledge of the local market and collective database has enabled them to offer an unmatched opportunity to find prospective buyers and achieve the best price for each property.
“We are seeing key indicators like buyer traffic, registered bidders and auction clearance rates at or around COVID-19 boom levels, which surprises many but just goes to show the strength of the local market," Mr Goldsworthy said.
Throughout the preceding weeks of the marketing campaigns, the collective teams saw an incredible 645 buyers inspect, resulting in 33 offers on the 17 properties offered prior to auction day.
