Spring Auction Market Shifts Into Gear

September 16 2022

Spring auction season is well under way and the number of homes set to go under the hammer is expected to ramp up in the coming months.
Spring Auction Market Shifts Into Gear

Despite a somewhat sluggish start to the season, the coming week is shaping up to be one of the biggest for auctions. Nationally the number scheduled has reached 2,260, 17.8 per cent higher than last week and 35.2 per cent higher than at the same time last year.

This rise in the number of properties going under the hammer indicates confidence in auctions as an effective method of sale in the current market.

From a seller’s perspective, an auction avoids both over-pricing and under-selling a property, and the direct market feedback provided during an auction campaign adds valuable education to their decision-making.

Buyers also benefit in that they are part of a transparent sales process where everyone has a fair chance to put their best price forward.

A new build designed by BDA Architecture at 19 Cronulla Avenue, Mermaid Beach, marketed jointly by Eoghan Murphy, Michael Kollosche and James Roberts, drew a large crowd when it went to auction last week. A bid of $4,400,000 brought the hammer down on the four-bedroom contemporary home, which features polished concrete blockwork, stained timber and natural stone.

As the warmer weather coaxes potential house-hunters into action, Kollosche agents are reporting higher numbers of people attending auctions and open homes.

There has been plenty of interest in the modern new-build home at 6 Beverley Crescent in Broadbeach Waters, marketed by Jay Helprin and Michael Kollosche. The property goes under the hammer today at noon.

At 2pm today, Corey Bedford and Michael Kollosche will be taking registrations for the auction of a freestanding villa at 2/20 Conifer Crescent in Broadbeach Waters.

An original 1970s home at 16 Alaska Avenue in Broadbeach Waters will be one to watch when it goes to auction on 30 September. The property, marketed through Jamie Harrison and Corey Bedford, has never been to market nor been renovated since it was built by the owners.

Not all properties are making it to auction – Sam Guo and Julia Kuo wrapped up two deals in Bundall last week well ahead of their auction dates. An original, five-bedroom brick home at 35 Daimler Drive went for $1,850,000 while a four-bedroom home on a dry block at 3 Vaucluse Place sold for $1,050,000 ahead of the planned 23 September auction.

To understand how best to capitalise on the Spring selling season, reach out to Kollosche’s sales team who are here to advise on the best approach to reach your property goals.

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