Auction market kicking goals
The market may be quieter lately but auctions continue to yield strong results
AUCTIONS on the Gold Coast are yielding strong results with millions of dollars worth of property changing hands in the past few weeks.
A 1970s-built beach house at Bilinga set the bar last weekend after selling under the hammer for $3.3 million.
A local buyer snapped up the Short St property at the auction, which attracted a crowd of about 50 people. The buyer plans to rebuild a family home on the site.
Marketing agent Troy Dowker, of Ray White Mermaid Beach, said beachfront properties were consistently drawing big crowds at auction.
Another two properties sold for more than $1 million over the weekend, including a waterfront home at Paradise Point.
Ray White Sovereign Islands agent Edin Kara handled the sale of 20 Drysdale Place.
He said there were roughly 20 inspections throughout the four-week marketing campaign with three registered bidders on the auction day.
“In that luxury market, having three registered bidders is quite good,” he said.
Another property at 22 Buccaneer Court, Paradise Waters fetched $2.7 million at auction, which was the highest recorded sale last week.
First National Real Estate Surfers Paradise agent Russell Rollington said the home’s character attracted the overseas buyers, who flew to the Coast for the auction and inspected it for 20 minutes before it went under the hammer.
“As soon as they walked in, they knew it was for them,” he said.
He had noticed many interstate and overseas buyers looking to the Gold Coast for homes or holiday houses recently.
“You get a lot more bang for your buck up here,” he said.
2 Short St, Bilinga (top), 22 Buccaneer Court, Paradise Waters (left), 20 Drysdale Place, Paradise Point (right).