Sunshine Coast Auction Achieves Top Dollar Sale Despite Countrywide Market Shift

It’s no secret that Sunshine Coast locals are becoming increasingly aware of the changes in the property market. For the sellers of 301/6 Wharf Street, Maroochydore, this remained front of mind as they approached the auction of their apartment somewhat cautiously. They need not have worried however, as the sought-after waterfront property was in high demand at the Ray White Coastal Living Network Auction Event, ultimately selling for $1.7 million – a fantastic result for the sellers. We sat down with Ray White Maroochydore sales agent Niall Molloy to find out more.

“We met the sellers at an open home and helped them bid on a property. Ultimately they missed out on it, however we seemed to have made a good impression upon them which was important as they are based out of town and were looking for someone they could entrust with the sale. The unit had been with them for a while and it was a great investment property for them, however having watched the market rise over the last few years, they felt it was time to sell and upgrade for something a little larger” says Niall.

A beautiful 3 bedroom Maroochydore apartment for sale on the Duporth riverside with uninterrupted views of the river, the larger layout attracted interested buyers as it was slightly grander than other units along the water.

“We had a lot of interest from local, interstate and Brisbane buyers. The main ones being downsizers and people interested in somewhere to get away to on the weekend. We ran a 5 week auction campaign, with great video and photo content to give as close to a tangible experience to people outside of the area as possible” says Niall.

One of the 71 properties that went to auction to a crowd of over 400 at the Ray White Coastal Living Network In-room Event (Sunshine Coast’s largest auction event) on Sunday 25th September meant that the maximised atmosphere provided the perfect competitive environment to achieve the best sales figure possible. Strongly believing that auction is the best strategy to evoke emotion and lead to higher sales figures, Niall couldn’t have asked for a better sales opportunity.

“We were Lot 5 out of 71 properties. The room was packed with hundreds of people which made for a fantastic atmosphere. We had 3 registered bidders, but this was unknown to the crowd as there could have been hundreds due to the sheer demand on the day. It’s a great testament for the auction method of sale as there were a few other sales of similar properties in the building that went for around 1.6 – 1.63 million that were listed at a price. The fear of missing out and the competition that the auction environment creates compels people to put their best foot forward.”

“It was a great auction, increasing by quick decisive increments. The successful buyer wouldn’t let it go and were willing to fight to secure it – and that they did at $1.7 million” says Niall.

The buyer, who had formerly lived on the Sunshine Coast, was so excited to return to the area that not only was he aggressive in his bidding style, but requested settlement be brought forward in order to get back to the sunny beaches sooner! As for the sellers? They were absolutely over the moon, and didn’t hesitate in complementing this Sunshine Coast real estate agent in their rave review:

“We first met Niall when we were looking to buy a property. His attention to detail, his follow-up and a level of trust he built with us so quickly was head and shoulders above anything we were experiencing with any of the other agents we were dealing with at the time. When it came time to sell our property it felt right to go with Niall and he didn’t disappoint. Throughout the selling process the great service we received from Niall continued and he was even able to get us a price for our property that’s well above our expectations. Niall is also backed by a great team in the office and it was evident they were doing everything they could to support us in selling our property. We were also selling our property at the Ray White annual auction event and given the large scale of the auction we were sceptical at first, however everything we were told played as expected and we would really recommend anyone selling around the time of that event to give it consideration. If you’re selling (or buying) on the Sunshine Coast you really shouldn’t be looking anywhere else except to Niall Molloy” says the sellers of 301/6 Wharf St, Maroochydore.

After reading a review like this it’s difficult to picture that the sellers were sceptical about the auction event and slightly nervous given the latest news reports on the Sunshine Coast property market. Aware of the shift in the market, Niall remains positive about the demand for the region, and it’s results like these that show just how much people are willing to pay to live on the Coast.

“Despite a few changes in the headlines around real estate recently, we’ve found that highly sought-after properties, and particularly waterfront ones, continue to amass great demand. I think it’s important to realise that interest rates are a factor, but at the end of the day the Sunshine Coast is a place that fundamentally people want to call home, and people are willing to pay what’s needed to secure the fantastic lifestyle that it offers. The key to harnessing this great demand and generating a fantastic outcome is giving buyers every reason to pay top dollar by presenting properties well, highlighting their unique appeal, and creating competition” says Niall.

If you’d like to learn more about buying or selling in this market, contact an experienced Sunshine Coast real estate agent like Niall Molloy.