Auctions hit record-breaking highs
August 27 2021
Kollosche auction clearance rates smash national averages
If you are a buyer who has attended an auction over the past month, you will be aware of the frenzy taking hold on the Gold Coast right now.
Property buyers just cannot get enough of the Gold Coast, and auctions have become the clear method of sale success, with Kollosche reaching a 100 percent clearance rate over the past week.
“We’re in an amazing market right now that we don’t know how long will last. What we do know from our results is auctions are the preferred way to sell in the current market – and they are selling with extraordinary results,” says Michael Kollosche.
The latest national data from CoreLogic reveals that the past week has seen auction clearance rates at 87 percent for Adelaide, 72 percent for Brisbane, 49 percent for Melbourne, 57 percent for Perth, 82 percent for Sydney and 100 percent for Tasmania.
Last weekend, Troy Dowker and his team had four registered bidders go head-to-head for 29 Tweed Street, Coolangatta, with the final bid going under the hammer reaching $2,825,000. This sale has set a new benchmark record for a residential home sale on Coolangatta Hill.
Wednesday night saw Eoghan Murphy and Michael Kollosche sell 2/33 Redondo Avenue, Miami for $2,275,000 under the hammer with four eager bidders.
Lumerie Penthouse sold for $4,500,000 in a combined effort by Michael Kollosche, Rob Lamb, Sam Guo and Julia Kuo via a virtual viewing.
Kollosche’s auction clearance was at 90 percent for more than 200 auctions in the first half of 2021, and we’ve also reached 90 percent clearance for the past quarter to date, confirming we are on track for a great end-of-year trajectory.
As we head into Spring, we are predicting even more record sales. With stock levels still extremely low and demand high, those in a position to sell hold the advantage, and buyers are very aware of the FOMO-fuelled frenzy.
Reach out for a detailed discussion on recent and relevant activity in your neighbourhood.