A tiny Sunshine Coast cottage, that looks just like your grandma’s house, received a staggering 104 bids at action during the week.
The auction was part of Ray White Mooloolaba, Kawana Waters and Nambour’s annual auction event and drew huge interest with bids starting at $500,000 and rising at times in $500 increments to an eventual sales price of $1.531 million.
The property, at 3 Hinkler Parade, Cotton Tree, had been held by one family for more than 40 years, with developers very interested in the 678sq m parcel of land zoned medium density.
Auctioneer and director of Ray White Mooloolaba, James Goldsworthy, said the Hinkler Parade property presented many different opportunities, with both mum and dad investors, first-home buyers and savvy investors/developers showing interest.
“We had over 3000 buyers view the property online and lots of pre-auction interest so we were delighted to secure a fantastic outcome for our seller in the evening,” Mr Goldsworthy said.
“Needless to say, the owner was delighted with the outcome and ability to move onto the next stage of his life.”
Mr Goldsworthy said that in 20 years of real estate, and as an auctioneer, he’d never seen anything like it.
“It was unreal, the auction had multiple phases, starting incredibly low, a 21-minute pause as a late bidder arrived mid-auction and a young lady putting in $1000 bids on multiple occasions right on the fall of the hammer, it was like nothing I’ve seen before,” he said.
Overall, the auction event was a huge success for Ray White with 17 properties scheduled for auction, a crowd of more than 100 people with five of the properties successfully negotiated before auction with a further seven selling under the hammer; culminating in a 71 per cent clearance rate.
Mr Goldsworthy said the response to the event was fantastic.
“Overall the energy in the room was electric,” he said.
“We are excited to continue negotiations on those properties that came close to selling last night.”
The Ray White Coastal Living Network’s intimate knowledge of the local market and collective database has enabled them to offer an unmatched opportunity to find prospective buyers and achieve the best price for each property.
“We are seeing key indicators like buyer traffic, registered bidders and auction clearance rates at or around COVID-19 boom levels, which surprises many but just goes to show the strength of the local market,” Mr Goldsworthy said.
Throughout the marketing campaigns, the collective teams saw 645 buyers come through the properties, resulting in 33 offers on the 17 properties prior to auction day.
