COVID-19 is not deterring house hunters on the Gold Coast with 33 bidders battling for a Broadbeach apartment at auction, with the hammer coming down just shy of $1 million.
The property, a “neat and tidy” two-bedroom residence at 3/17 Broadbeach Blvd, sold for a building record of $960,000.
3/17 Broadbeach Boulevard, Broadbeach.
“The response to this property over the last three weeks has been nothing short of record breaking,” marketing agent Tolemy Stevens of Harcourts Coastal said.
“We had over 70 inspections which led to 33 cash bidders.
“The auction started at $500,000 and eventually sold under the hammer for a record price of $960,000.
“It sold well in excess of the reserve.”
The block is tightly-held – the last sale in the building was $652,500 in 2015.
3/17 Broadbeach Boulevard, Broadbeach.
Mr Stevens said the apartment’s appeal was widespread.
“It’s just such a nice all round opportunity,” he said.
“It appeals to all buyer demographics including first home buyers, renovators, owner-occupier, as a holiday home, a returning investment or potential for a landhold for redevelopment down the track.
3/17 Broadbeach Boulevard, Broadbeach.
The unit block, named Pacific Sound, is a block of only six apartments – apartment 3 is on the second floor and has an easterly aspect with spectacular ocean views.
It was built in the 1960s with units well-maintained but in mostly original condition.
“The building is very sought after and ticks a lot of boxes so I always knew it would attract a lot of interest however I certainly wasn’t prepared for the sheer volume and active number of cash buyers that were trying to secure the property.”
3/17 Broadbeach Boulevard, Broadbeach.
Mr Stevens said he believed Queensland’s low numbers of COVID-19 when compared to NSW and Victoria was only fuelling demand for property.
“A result like this is a testament to Queensland’s low numbers of COVID-19,” he said.
“A lot of interstate buyers are seeing the Gold Coast as a bit of a safe haven and seeing the Gold Coast as secure spot to invest their money.
“Of the nine registered phone bidders we had at Wednesday’s auction, five of them were from Sydney and Melbourne.”
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