As more interstate buyers are making the move to the picturesque Sunshine Coast, we love to share stories like this one – spoiler alert, the local wins!
A recent Ray White Maroochydore Real Estate Saturday auction included the sale of 10 Ryhope St in Buderim for $3.5million. Situated on a large block of land, this Buderim Forest adjacent home offers breathtaking Northerly views, while maintaining proximity to the local shops. A unique statement home, Ray White Maroochydore Real Estate Agent Reuben Park knew that the sale would too require a unique approach.
“The most attractive qualities of the property was the block size combined with the location and the view. It was these intangible benefits that attracted people to the home. In saying this, the owners previously had the property on the market with another local agent for a number of months resulting in very little interest and enquiry… So when we took on the property, we knew that we had to enforce a time limit for buyers to make a decision, and the owners agreed that an auction was the best way to move ahead to possible negotiations.” Reuben says.
Reuben understood that it was important for the sellers to feel like the Ray White Maroochydore team had marketed the property far and wide, so that they wouldn’t be left guessing if there was a buyer that might have been missed. As such, a significant investment was made in the marketing campaign for the property – and it was one that paid off!
“The campaign kicked off very successfully, with more people inspecting the property at the first open home than the previous agent had over three months… and this instilled a lot of confidence in the sellers. There was interstate interest that varied across a range of demographics: from young high net worth professionals, to retirees, and established families. We didn’t know where the eventual buyer would come from, as the interest remained consistent. What was surprising however, was that the final purchasers of the property didn’t make themselves known until 3 or 4 days before the auction.” Reuben says.
Attracting a large crowd on the day of the auction, there were around 18 in attendance, with 4 registered bidders. With this Buderim house positioned at the top end of the Sunshine Coast property market, Ray White Maroochydore Principal and Auctioneer Dan Sowden was interested to see brand new buyers both inspecting and registering to bid on the day! With such a unique property for sale and serious bidders looking for a special house to call home, it was no surprise to Dan how the auction went on the day.
“Bidding started at 2.7million, which quickly went up to 3.2million and then paused for a moment, before a successful sale was negotiated with the winning bidder at 3.5million.” says Dan.
The sellers and Ray White Maroochydore agents couldn’t have been more pleased that the purchaser ended up being a local who has lived on the coast for 40 years. When asked how the increasing interest from interstate buyers affects premium property sales like this one, Reuben explained –
“It’s very interesting to see that at the top end of the market, there is a very generous pool of buyers. A previous misconception of the Sunshine Coast is that if you have those high end properties, you’ll only ever have one potential purchaser with very little competition. In this new market we’ve seen in 2021, there is a lot of very competitive bidding, with significant interest from interstate and South Queensland buyers.”
Wondering about the sellers? Well, they’re very satisfied to have passed on the property that they held onto for so long. Not only are they happy that the home has gone to a local buyer, but are excited for their next chapter in a beautiful Sunshine Coast waterfront property – a win for everyone involved we think!
If you want to work with a people-centric agent who has years of experience in Sunshine Coast Real Estate. Get in touch with Reuben Park today.
Written by Lauren Smith – Smith Madden Creative Agency