A season of success with record-breaking sales, hot auctions and new projects on the horizon.
We anticipated a bumper start to the Spring season, and we have not been disappointed, with record-breaking sales, high numbers of qualified auction bidders, commercial sales thriving and new projects on the horizon to meet the demand.
Spring is traditionally the busiest season of the year: with an average 15 percent increase in the number of homes for sale nationwide during the warmer months of September, October and November.
On a historical 10-year average basis, 42,100 properties come to market per month across Australia (according to CoreLogic data). This average jumps to 48,700 per month during Spring.
At Kollosche, our data shows strong auction results for quarter one of the year with a clearance rate of 82 percent.
By way of comparison, the national average auction clearance rate is sitting at 75 percent, so we are on target for a fantastic season, and momentum looks strong.
Hot property results
Kollosche have reported extremely high enquiry rates resulting in high numbers of qualified auction bidders. This has led to several record breaking results over the past month.
Troy Dowker and Eoghan Murphy collaborated with a fantastic result at 2/6 Marine Parade, Miami with 75 Open Home Attendees and 102 enquiries. The beachside villa sold under the hammer for $4,510,000 after fierce competition from eight registered bidders.
Rob Lamb secured two outstanding results under the hammer. 2/13 Second Avenue, Broadbeach sold for a successful result of $1,780,000. In an interesting twist, the seller then purchased 23 Beach Parade, Surfers Paradise for $1,795,000 shortly after.
4 Clearwater Bay Avenue, Clear Island Waters saw over 100 enquiries and a battle between 11 registered bidders selling for over the reserve with a final result of $2,480,000 in a sale by Sam Guo and Julia Kuo.
With a massive auction turnout, 22 Eagle Avenue, Burleigh Waters sold under the hammer after fierce competition from 7 registered bidders for a record-breaking $4,025,000 for a dry block in Burleigh Waters by myself and Eoghan Murphy.
The Commercial team has had an outstanding year and have exceeded all expectations.
Three of the top commercial sales have included The Greenmount Beach Hotel site in Coolangatta, which sold for $42,300,000 over a productive three-week campaign and attracted over 160 enquiries.
Lot 909 and 915 ‘The Lakes’ in Mermaid Waters sold for $32,500,000 after a five week Expressions of Interest campaign, and Lot 917 sold to a local buyer for $16,000,000.
I have been extremely impressed and proud to have had Team Grbcic join Kollosche last year, and we have seen some amazing results so far.
We are at the tail end of a number of big campaigns, and I get the impression that they are only just getting warmed up.
New projects on the horizon
We know there is a shortage of stock and the demand for apartments has never been stronger. Gold Coast has recorded close to $800 million worth of new apartment sales in the past year.
The Kollosche New Projects team have had a stellar year, already achieving over $252 million in sales, and with several projects on the horizon they are expected to hit some exciting milestones.
Enquiries are at a level we have never seen before, and as a result, our New Projects team have been working closely with developers on upcoming opportunities.
Interstate migration into Queensland is growing at the fastest rate we have seen since late 2003, and will remain a tailwind for housing demand.
With a population of roughly 3.7 million, the new data coming from Queensland Government Statistician’s Office confirms that Queensland’s southeast is Australia’s fastest-growing area.
The energy in our office is at an all-time high, and we know this Spring is going to be one we will be talking about in many years to come.
Enjoy the warm days ahead, and we look forward to bringing you more updates and working hard to bring our clients the best service and results possible.