- 92% of properties the group has submitted have been sold
- Auction event that was held last week set to have a 100% success rate pending four negotiations
- Sales have been as high as 31% above the reserve price
Gold Coast’s largest auctioneers, Ray White Surfers Paradise, are currently achieving unparalleled levels of sales. The sales are so high they surpass that of the traditionally stronger Sydney and Melbourne markets.
During the past two months, the group has submitted 91 properties to auction, including 25 on Thursday 29 April. Currently, 92% of properties have been sold, with this number expected to increase even further over the next few days.
Last week’s auctions saw 3 commercial and 22 residential properties with 6 of these selling before the auction itself, where 67 registered bidders were present. A further 15 of these properties sold under the hammer, with the remaining four currently under negotiation, suggesting it is likely this event will result in a 100% success rate.
A large interstate audience were able to attend the event via Zoom, with sales as high as 31% above the reserve.
Andrew Bell, the Chief Auctioneer and CEO of The Ray White Surfers Paradise Group, said his company’s 30-plus year commitment to the area has placed them ias the leading auctioneers in the state. He added he was immensely proud of their 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.”
Andrew Bell, Ray White Surfers Paradise
Mr Bell added emotions run high in auction rooms; there is “excitement” and “thrill” for buyers along with some “tears of joy” as sale transactions occur.
The group is now preparing for their Mid Year Selection.