ANY suggestion the Sunshine Coast real estate market was slowing was shattered by the sound of an auctioneer’s hammer during four hours of property power.
More than $15 million in 21 pieces of real estate have sold through one agency in a hectic auction.
Ray White’s eight Sunshine Coast offices from Noosa to Kawana and everywhere in between and have joined forces for a mega auction on Sunday.
Ray White Maroochydore principal and auctioneer Dan Sowden said it was the fifth annual auction timed specifically for Spring, and the agency’s most successful year.
About 400 people rushed through the doors throughout the four hours, with many travelling from interstate.
“It’s one of the most successful campaigns we have had, which really drives confidence about the market,” Mr Sowden said.
“We kicked off at 10am, and it was capacity, and we rolled on ’til 2pm.
“In terms of bidder numbers, the crowd and interest, it was so successful.”
Mr Sowden said the crowd contained plenty of Brisbane, Sydney and Melbourne bidders, some who walked away with property.
Ray White had 57 properties go up for auction, with six sold prior, and Mr Sowden said the first section sold at 50 per cent – well above the state average.
He said the biggest sale was a $1.8 million acreage property, at 106 Fairhill Rd, Ninderry, purchased by a neighbouring farmer.
It was sold by Nambour’s Peter Chant and Matt O’Grady.
The new owner saw the property advertised in the Sunshine Coast Daily and beat two other bidders on the day. The property itself had 63 inspections.
“His motivation to buy was the water rights, the high rain fall and pastures, and he will continue to run his livestock,” Mr Sowden said.
“It’s good the property is being kept for the use it is, not subdivided up.”
Mr Sowden said the remaining sales ranged from affordable three bedroom homes, half completed mortgage sales, beachfront apartments and waterfront dreams.
He said the Spring auction was perfectly timed before a push into the Summer months.
“Buyers are at their most active,” he said. “They want to be settled by Christmas and ready for a new school year.”
“It’s an emigrational period but in many ways, the properties simply look their best at this part of the property calendar.”
Other noteworthy sales included a builder’s opportunity at 7 Wannon St, Maroochydore. Five registered bidders fought it out for this unfinished renovator’s home, which sold for $455,000 through Rowan Woodbine.
Meanwhile, 11/14 Mary St, Alexandra Headland, sold prior to auction for $530,000. Mr Sowden said it was originally purchased three years ago for $375,000 before being renovated.
It sold in the first week of being on the market.
From an affordability outlook, Mooloolaba director James Goldsworthy sold a “nice and neat” home in Kuluin for $370,000 in an area where the average sale price was almost double, showing value still existed for first home buyers.