Auction results from the Gold Coast's largest auctioneers, Ray White Surfers Paradise, are producing success rates at unparalleled levels and at levels even higher than the traditionally strong counterpart markets of Sydney and Melbourne.
Over the past two months, the Ray White Surfers Paradise Group has submitted 91 properties to auction, including 25 on Thursday 29 April, recording an incredible 92 percent of sales and an expectation that number will rise to even higher levels in the next few days.
At this week's auctions of 3 commercial properties and 22 residential properties from all over the Gold Coast, an incredible 24 percent sold prior to auction with sellers receiving offers too good to refuse in the weeks leading up to auction day.
A large audience on auction day, including 67 registered bidders, were also incredibly active with robust bidding seeing a further 15 properties sell under the hammer, leaving only 4 properties currently in negotiations to complete a 100% success rate.
The auctions, which were available to view via Zoom to a large interstate audience, saw the usually strong component of interstate bidders actively engaged in the bidding, vying for everything from 1-bedroom apartments through to penthouses and residential homes through to commercial investments. While most sales were at or above reserve price, there were outstanding sales that saw lengthy and robust bidding producing sales as high as 31 percent above reserve.
Chief Auctioneer and CEO of The Ray White Surfers Paradise Group Andrew Bell said his company's commitment over 30+ years has placed the company in a position of being the leading auctioneers in Queensland and he was immensely proud of how their experience and expertise in this field is delivering extraordinary results.
"The success rates being achieved in our auction rooms are not only rivalling the results in the big capital cities, but leading the way in the country,” said Mr Bell.
“Auctions are the highest form of expertise in the real estate industry and should be left to those with the greatest experience in them, and when done correctly they are producing amazing results for sellers. It baffles me why anyone at present would consider selling by any other means.
"We are also pleased to assist purchasers who have found it very frustrating when dealing with private treaty situations where they make offers but simply find out that a property sold to someone else and the buyers don't feel they are given a free and open opportunity to secure a property.
The openness of an auction gives every buyer the opportunity of deciding whether they will or won't increase their offers and should they be the highest bidder then they know as the hammer comes down that they have secured the property and it can't be taken away from them.
"What we really love seeing happen time and time again in our auction rooms is the excitement and the thrill for both buyers and sellers as they either sell or purchase their new property and take that next step in life's journey. It is a moment of not just excitement but often we see tears of joy as we transact sales for people.”
Ray White Surfers Paradise Group are now gearing up for their Mid Year Selection and look forward to continuing to produce outstanding results for the Gold Coast property market.