62% Auction Success Rate

Sunshine Coast’s largest Real Estate Group Ray White says that auction clearance rates locally are on the rise. Ray White Maroochydore Director Dan Sowden, commented that his office enjoyed a 75% clearance rate over the last weekend with 3 from 4 properties selling at our on site auctions. In broader market terms the Ray White Group across the coast conduced 81 Auctions with 51 sold, which is a 62% success rate. This is well in excess of the REIQ published market clearance rate across the state of just 12%. With what seems like a pre-Christmas rush, buyers are acting only on properties in which they perceive to be good value with the view to moving into their new properties during January in 2011.

At the age of 23, Oliver Shearer whom is fast making himself known as the new ‘young gun’ in real estate specialising in unit and apartment sales commented that the recent interest rate shift hasn’t effected investors as he sold Apartment ‘201 Aleutian at Seaforth in Alexandra Headland at auction for $292,500. This 2 bedroom furnished apartment on the 2nd floor featured a pleasant aspect over the pool and resort facilities, however with over 30 other units on the market within the same complex, it was the auction process and perception of value that generated the enquiry and sale to a Brisbane based Investor. Other sales on the weekend were with Gavin Duncan and the property at 18 Bellara Dr, Curramundi which sold for $373,000 to first home buyers and Simon Birse selling 293 Nicklin Way, Warana post auction also to owner occupiers.

Ray White Maroochydore has a further 10 auction campaigns underway in 2010 with another 10 campaigns already booked for the historically busy Christmas / January period. With buyer activity remaining steady, you can expect to see a higher then average auction success rate in the coming months.