Virtual gavel still favoured

HEADCOUNTS and border closures are preventing on-site group auctions from returning with vigour on the Gold Coast as agents hold out for COVID-19 restrictions to ease further.

Restrictions on group open homes and on-site auctions were partially lifted last weekend.

Ten people are now permitted to inspect a property or attend an auction at one time.

Border closures are also holding some buyers back, with interstate bidders unable to view properties and attend auctions in person.

While agents report a surge in buyer activity and inquiries, most will continue to run auctions online until June 13, when up to 20 people are permitted to take part.

Under the Queensland Government’s “road map to recovery’’, those limits are to increase to 100 people from July 10.

A beachside apartment in Broadbeach and a fivebedroom house at 38 Totsi St, Sorrento, are the only two properties set to go under the hammer on the Gold Coast today, with both auctions set to be conducted online at 10am.

Ray White Broadbeach agent Rachael Coffey, who is marketing 94 Carmel by the Sea with Elly Patsis, said the online auction format was preferred for now.

“There are a lot of interstate buyers interested in the property and they’re not able to come to Queensland to bid,” she said.

“By running the auction online we’re able to capture the full pool of potential buyers. At this stage we have four registered bidders and two of those are interstate.”

Harcourts Coastal has an in-room auction scheduled for Wednesday, when 10 properties are set to go under the hammer, with buyers able to bid in person, over the phone or online.

“We are now allowing up to 10 pre-registered bidders to attend those in-room auctions,” said Harcourts Coastal managing director Dane Atherton.

“We have also started taking bookings for on-site auctions beyond June 13, when up to 20 people can attend.”

Last week the Gold Coast recorded an auction clearance rate of 40 per cent.

Of the 17 auctions scheduled, 10 results were made available, with six properties sold and four passed in.