Market Insights

Use Auctions To Your Advantage

July 15 2022

In a market where vendors are being asked to ‘meet the market’, the auction process provides a valuable gauge of what buyers may be prepared to pay for your home.
Use Auctions To Your Advantage

Auctions have been an extremely effective method of sale over the past two years when droves of emotional buyers pushed prices to record highs.

And as the market continues to evolve, auction campaigns remain a useful tool during a period where vendors attempt to weigh their own expectations against buyer sentiment.

The feedback a vendor receives throughout an auction campaign provides a valuable barometer on buyer interest and a direct understanding of what a realistic sale price looks like.

An auction sends a clear message to buyers that the vendor is serious about selling and sets a firm deadline – usually three to four weeks – in which buyers have to act.

Over the past year Kollosche conducted 260 auctions. Our auction clearance rate for the 2021-2022 financial year was 93%, and the team’s year-to-date clearance rate sits at 87%.

Auction clearance rates across the Gold Coast are trending lower than in previous quarters – last week’s citywide auction clearance rate was 43%, with a rate of 60% last month.

While seasonal factors play into these figures, official auction clearance rates don’t account for those properties sold post-auction when negotiations continue with top bidders to reach a deal.

1 Rowes Court, Sorrento | Kollosche

A new Sorrento price record was set at last Saturday’s auction of a grand five-bedroom house on a 2,220m2 Main River point position at 1 Rowes Court.

Sam Guo and Julia Kuo led the campaign to auction where a local buyer stumped up $8,300,000 under the hammer, with six bidders registered.

Last Friday, seven bidders registered for a tilt at 125 Camberwell Circuit, Robina where a unique chalet-style residence achieved $1,990,000.

Brad Coyne and Cooper Markovitch received 127 enquiries and showed 92 groups through the property during a three-week print and digital marketing campaign.

Also on Friday, a modern coastal treehouse at 15 James Street on Currumbin headland fetched a premium pre-auction price of $3,800,000 after just nine days on the market with Troy Dowker.

13 Ephraim Island Parade | Kollosche

Strong media interest has shone the spotlight on a three-level Beach House at 13 Ephraim Island Parade, Ephraim Island ahead of the 23 July auction.

Renowned jeweller John Calleija has enlisted Kollosche’s Daniel Sharp to market the prime north-facing waterfront holding where a pool, cinema, six-car garage and marina berth are among the luxury inclusions.

Kollosche has a firm finger on the prestige property pulse across the Gold Coast and can share trusted advice and smart strategies to those in a position to sell.

Reach out by phone, email or visit our Broadbeach office if we can assist you in any way.

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