Going, going, gone

Auction clearance rates on the Gold Coast have been on an upward trend all year

AUCTIONS are fast becoming the norm on the Gold Coast as demand continues to outstrip stock.

This month, the auction clearance rate on the Glitter Strip sits at a huge 84 per cent, according to realestate.com.au. Just six months ago the clearance rate was 71 per cent.

You only need to look at last weekend’s auction results to see the demand – the top five auctions all recorded sale prices of more than $2 million.

The top auction sale was a property at 24 Lakeview Blvd, Mermaid Waters which sold under the hammer for $2.875 million through Issac and Maria Genc of Sotheby’s Queensland. He said the auction attracted a strong crowd with seven registered bidders. The single-level house was built less than three years ago and features waterfront and Hinterland views.

This weekend Kollosche agent Kara Evatt is taking a six-bedroom property at 8 Arenga Dr, Tamborine Mountain to auction.

“This was a small, single-level home which the owners have renovated and extended to include a second dwelling,” Ms Evatt said. “It is unlike anything I’ve really seen on the market — it’s got a real city meets country vibe with natural textures like polished concrete floors.”

The property goes under the hammer on Sunday, October 24.

Next week, a rundown beach shack in one of the Gold Coast’s hottest suburbs will go under the hammer. The three-bedroom

“knockdown” at 6 Santa Monica Rd, Miami, is on the market for the first time in 44 years.

The block size and proximity to the beach were huge selling points, marketing agent Luke Henderson, of John Henderson Real Estate Professionals Mermaid Beach, said.

The property is going to auction on Tuesday, October 26 at John Henderson Real Estate’s Spring Auction Spectacular Event.

Mr Henderson said both buyers and sellers were getting more comfortable with the auction process on the Gold Coast.

8 Arenga Drive, Tamborine Mountain is going under the hammer on Sunday, October 24.