Short, sharp auction campaigns are proving effective on the Gold Coast where a hot market is seeing impatient buyers move on quickly.
A sunny top-floor apartment in a three-storey brick walk-up at 133 Old Burleigh Road, Broadbeach sold for $570,000 under the hammer on Sunday.
The 17-day campaign attracted more than 100 inspections ahead of the onsite auction where 22 bidders registered for a tilt at the beachside abode.
The highest of 33 bids came from a Broadbeach couple with plans to renovate and move into the two-bedroom residence.
9/133 Old Burleigh Road, Broadbeach sold for $570,000 under the hammer.
Professionals – John Henderson agent Luke Henderson, who led the marketing push with Matt Maguire, said the level of pre-auction interest exceeded all expectations.
“We had a lot of young people looking at it, many first home buyers, due to the location being close to all the conveniences of Broadbeach, having a glimpse of the ocean and two car parks,” he said.
Mr Henderson said the traditional one-month auction campaign was trimmed in order to retain buyer interest.
“What we’re finding is that buyers who are ready to go want to buy today,” he said.
“If we do 16-20 days buyers will stick with the property rather than look elsewhere.”
46/173 Old Burleigh Road, Broadbeach fetched $1.777 million at auction this week.
On Tuesday, a Brisbane buyer placed the winning $1.777 million bid on a designer apartment on the 19th floor of residents-only Verve in Broadbeach.
Ray White’s Mark Stafford and Andrew Rouse led the campaign which saw 58 inspections, 218,748 people reached on social media and 2000 REA views.
Over in Miami, five bidders registered for a crack at a coastal-style new build at 103 Chainey Ave which sold for street record of $1.3 million under the hammer last Sunday.
The three-week pre-auction marketing push was led by Brad Payne and Jarrard Lemming of Ray White CG – Broadbeach.
103 Chainey Ave, Miami sets a new street record of $1.3 million at auction.
The Miami sale was among the top three auction results on the Gold Coast last week.
An east-facing four-bedroom home on wide water at 4 Vevey St, Mermaid Waters sold for $1.45 million under the hammer while 302/13-25 Garfield Tce, Surfers Paradise fetched $1.42 million.
Reslestate.com.au recorded the city’s auction clearance rate was 48 percent for the week ending August 25, down 2 percent on last month.
Out of 39 reported auctions, 19 properties sold under the hammer, 19 were passed in and one was withdrawn.
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