RESERVES ARE RISING
While market forces took unpredictable turns though much of last financial year, there was no denying the success of auctions in the local market from the second half of 2021
Historically in Australia, private treaty has been the most common sale method for property List a home for a price that reflects market value, receive offers from buyers, negotiate and accept an offer that meets the needs of both parties
Taking a property to auction removes a set price from the equation, which has traditionally been seen as a barrier to entry, particularly for first home buyers Without the benefit of a cooling off period, auctions have typically only attracted certain kinds of buyers - those who can meet the unconditional circumstances of buying on the day
While auctions have always produced the best results when the market is strong, not surprisingly, what began to play out in the auction space in 2021 defied any historic precedent. Across the country, the number of properties clearing at auction rose steadily through May and June as a shortage of supply was met with strong demand
What was perhaps most surprising was the average number of bidders per auction actually increased through the worst months of pandemic, with numbers higher then pre-Covid The strategic move to online auctions by the Ray White Group nationwide enabled sellers and buyers to transact safely and transparently through this period, which contributed to the increase in both numbers and confidence
Combined with government stimulus, loan pre-approvals also rose to record levels Loan Market recorded its highest month of settlements - topping $1 billion in loans - in May 2021 This wave of new, pre-approved buyers was now entering the market and able to compete at auction
Gavin Croft, Chief Auctioneer for Ray White Corporate Queensland said the southern Gold Coast has been a standout market across Queensland so far this financial year "The sheer volume of enquires and inspections has been overwhelming which is being translated through to a record number of bidders across our 24 auction events Ray White Tugun/Elanora currently holds a clearance of 92 5% of auctions selling under the hammer or prior to auction this financial year
"Our online audience continues to grow as buyers, sellers and interested members of the community tune in every fortnight Watching a number of our auctions sell for record prices is giving many sellers confidence to list, with auction being the preferred method of choice for any seller looking to achieve the markets best price"
In a seller's market like the one seen in the back half of 2021 through to now, an auction creates the conditions to leverage competition between buyers, often pushing the price beyond what could be achieved through a traditional private treaty sale, where the presence of competition is not felt as highly
Why auctions, why now?
2021/22 FY ONLINE AUCTION Snapshot 994% 4% RWTECurrentAuctionClearanceRate TheswitchtoOnlineAuctionshasproventobeaneffectiveand popularmethodwithbothbuyers&sellers $$119,791,000 119,791,000 WorthofPropertySoldsofarthis financialyear $$6,675,025 6,675,025 EarntaboveReserve PriceatAuction Peoplehavestreamed ourAuctiononline 33500+ 500+ 8823 23 RegisteredBidders across141properties
21/22 FY ONLINE AUCTION Results ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD Clearance Rate: 100% Total Bidders: 26 Total Live Bids: 26 Total
5
36/437
Four Drive
35/40
Street Currumbin
JULY 2021 Clearance Rate: 100% Total Bidders: 44 Total Live Bids: 154 ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD 1/319 Golden Four Drive Tugun 7 29 $1,300,000 $1,650,000 Auction 11 Kimmuli Drive Elanora 16 61 $1,000,000 $1,540,000 Auction AUGUST 2021 60 Clives Circuit Currumbin Waters 16 22 $500,000 $783,000 Auction 28
Avenue Elanora - - - $960,000 Prior
RWTE
Over Reserves: $585,000
Wickham Terrace Tugun 35 - $600,000 $971,000 Auction 14 Jandakot Court Elanora 32 21 $900,000 $1,160,000 Auction 10/49 Dutton Street Coolangatta 17 24 450,000 $590,000 Auction 13/462 Coolangatta Road Tugun 16 27 500,000 $690,000 Auction 5/543 Gold Coast Highway Tugun 7 16 $400,000 $675,000 Auction 79 Leyte Avenue Palm Beach 3 45 $700,000 $600,000 Auction 11 Karragata Court Tallebudgera 2 6 $900,000 $1,250,000 Post 1/12 Kallara Street Tugun 2 6 $900,000 $1,250,000 Auction 38 Wyberba Street Tugun - - - $1,225,000 Prior 301/4-10 Douglas Street Coolangatta 5 26 $750,000 $985,000 Auction 9/67 Doubleview Drive Elanora 10 23 $700,000 $865,000 Auction 2/11 Cupania Place Elanora 5 20 $400,000 $611,000 Auction
Golden
Tugun - - - $600,000 Auction
Teemangum
6 17 $500,000 $615,000 Auction
Hibertia
218 Simpsons Road Currumbin Waters 6 - - - Post 24 Crest Drive Elanora 11 23 $900,000 $1,115,000 Auction 1/9 Panorama Drive Currumbin 14 23 $1,000,000 $1,550,000 Auction ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD AUGUST 2021 CONTINUED 179 Simpsons Road Elanora 23 17 $500,000 $870,000 Auction ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD SEPTEMBER 2021 99 Monday Drive Tallebudgera Valley 5 21 $1,320,000 $1,575,000 Auction 230 Cypress Terrace Palm Beach 17 24 $1,000,000 $2,020,000 Auction 4 Betony Court Elanora 80 18 $750,000 $1,523,000 Auction 20 Correa Court Elanora - - - $1,145,000 Prior Clearance Rate: 100% Total Bidders: 63 Total Live Bids: 93 5a & 5b Weeumba Street Currumbin 25 31 $1,200,000 $1,600,000 Auction 2/27 Fifth Avenue Palm Beach 8 31 $700,000 $1,060,000 Auction 54 Forest Drive Elanora - - - $1,335,000 Prior 60 Doubleview Drive Elanora 14 33 $1,020,000 $1,410,000 Auction 5 Numidia Street Tugun 20 24 $700,000 $1,015,000 Auction 8 Ajax Court Currumbin Waters 9 21 $750,000 $1,100,000 Auction 3/6 Teemangum Street Tugun 5 29 $450,000 $680,000 Auction ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD OCTOBER 2021 89 Toolona Street Tugun - - - $1,127,500 Prior 38 Durran Street Tugun 5 30 $700,000 - Passed In 53 Waikiki Avenue Palm Beach 13 18 $700,000 - Post 23 Ottelia Drive Elanora 16 24 $900,000 $1,075,000 Auction 14 Tierney Drive Currumbin Waters 20 29 $800,000 $1,620,000 Auction Clearance Rate: 100% Total Bidders: 117 Total Live Bids: 183
ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD OCTOBER 2021 CONTINUED 10/1266 Gold Coast Highway Palm Beach 14 14 $500,000 $645,000 Auction 11007/1328 Gold Coast Highway Palm Beach 5 30 $650,000 - Post 5 Michel Drive Currumbin Waters 9 17 $800,000 $1,225,000 Auction 7/14 Bolton Street Coolangatta 8 25 $850,000 $920,000 Auction 27 Cornwall Drive Elanora - - - $1,225,000 Prior 2/5 Hillcrest Avenue Tugun 7 16 $650,000 $890,000 Auction 23/560 Gold Coast Highway Tugun 20 31 $500,000 $640,000 Auction 2/34 Fourth Avenue Palm Beach 9 24 $850,000 $1,060,000 Auction ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD NOVEMBER 2021 25/3 Millers Drive Elanora - - - $595,000 Prior 18 Currant Street Tugun 5 18 $700,000 - Post 6 Jarrahdale Drive Elanora - - - $1,200,000 Prior 4/67-69 Doubleview Drive Elanora - - - $595,000 Auction 4 Pinecone Court Elanora 26 23 $890,000 $1,215,000 Auction 6 Bielby Street Tugun 12 19 $1,150,000 $2,035,000 Auction 44 Monash Street Tugun 15 24 $850,000 $1,150,000 Auction 55 Kitchener Street Tugun 11 28 $900,000 $1,170,000 Auction Clearance Rate: 92% Total Bidders: 65 Total Live Bids: 181 38 Casuarina Drive Elanora - - - $1,150,000 Prior 5 Pall Mall Avenue Currumbin 7 21 $1,600,000 $2,150,000 Auction Clearance Rate: 100% Total Bidders: 71 Total Live Bids: 76 ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD DECEMBER 2021 1 Castle Court Tugun - 52 - $1,335,000 Prior 39/329 Golden Four Drive Tugun 10 49 $700,000 $950,000 Auction
ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD DECEMBER 2021 CONTINUED
ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD
84
1601/10
6
Currumbin
Clearance Rate:
Total Bidders:
Total Live
425
Clearance
Total
Total
3 Aringa Way Tallebudgera - - - - Post 1 Daffodil Street Tallebudgera 11 37 $1,000,000 $1,850,000 Auction 25 Balsa Avenue Elanora - 22 - $1,030,000 Prior 7 Radiata Court Elanora - 65 - $1,280,000 Prior 8 Vista Street Elanora - 38 - - Post 6 Sumach Place Palm Beach 12 37 $850,000 $1,285,000 Auction 3/18 Tomewin Street Currumbin 7 34 $500,000 $755,000 Auction
JANUARY 2022
Ironbark Street Elanora 16 41 $1,000,000 $1,595,000 Auction
Fifth Avenue Palm Beach 5 32 $600,000 - Post
Aegean Way
Waters 11 35 $1,000,000 $1,350,000 Auction 81 Saffron Street Elanora - 23 - $875,000 Prior 19 Cosmos Court Elanora 25 26 $700,000 $1,265,000 Auction 3 Kukulies Court Currumbin Waters 11 47 $1,100,000 $1,475,000 Auction 226 Galleon Way Currumbin Waters 13 28 $1,500,000 $2,510,000 Auction
100%
31
Bids: 40 3 Jalinda Court Currumbin Valley 7 29 $1,300,000 $2,500,000 Passed in 782 Pacific Parade Currumbin 7 34 $4,000,000 - Passed in 7/14 Wilpark Crescent Currumbin Waters 5 25 - $750,000 Auction 62 Monash Street Tugun 5 26 $850,000 $1,050,000 Auction 5 Chown Avenue Currumbin Waters 9 29 $1,900,000 $2,220,000 Auction 28 San Michele Street - 31 - $1,368,500 Prior Tugun
Golden Four Drive Tugun 0 24 - - Passed in
Rate: 78%
Bidders: 89
Live Bids: 114
FEBRUARY 2022
104 Glen Eagles Drive Robina 16 17 $700,000 $1,100,000 Auction 9 Grampian Court Reedy Creek 3 - $900,000 $1,390,000 Auction 1/131 Golden Four Drive Bilinga - 29 - $755,000 Prior 60 Bergamont Street Elanora 13 26 $800,000 $1,130,000 Auction 97 Casuarina Drive Elanora 4 24 $700,000 $960,000 Auction
22 Saffron Street Elanora 10 24 $650,000 - Post 15 Foch Street Tugun 10 36 $650,000 $860,000 Auction
41 Kitchener Street Tugun 6 23 $800,000 $1,125,000 Auction 4 Elizabeth Street Tugun 7 43 $3,000,000 - Post 100 Cyclades Crescent Currumbin Waters 22 39 $1,400,000 $2,665,000 Auction 13 Castle Court Tugun - 38 - $1,300,000 Prior 4 Blackwood Place Palm Beach 5 42 $1,500,000 $2,175,000 Auction 524 Gold Coast Highway Tugun 7 32 $1,000,000 - Passed in
7a Cherub Street Tugun 6 31 $700,000 $925,000 Auction 7b Cherub Street Tugun 5 31 $550,000 - Post 2 Dilgara Street Tugun 11 24 $700,000 $1,285,000 Auction
Clearance Rate: 71% Total Bidders: 31 Total Live Bids: 49 Total Over Reserves: $140,000
Clearance Rate: 93% Total Bidders: 99 Total Live Bids: 115
1/287 Golden Four Drive Bilinga 33 19 $900,000 $1,200,000 Auction 7 Doolee Court Currumbin Valley 4 29 $1,200,000 $1,440,000 Auction 32 Tallebudgera Crk Rd Burleigh Heads 3 26 $1,500,000 - Under Contract 3 Calver Court Currumbin Waters - 23 - $950,000 Prior 102/955 GC Highway Palm Beach - 24 - $720,000 Prior
3/88 Sarawak Avenue Palm Beach 5 20 $500,000 $600,000 Auction 62 Coolibah Avenue Palm Beach 6 21 $1,100,000 $1,605,000 Auction
LIVE BIDS DOM*
FINISH BID
ADDRESS SUBURB
START BID
SOLD
SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD
ADDRESS
MARCH 2022
ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD MARCH 2022 CONTINUED 32 Palm
Avenue
$1,000,000
15-17 Brahman Court
7
3 Beacon Court Elanora
4
Drive
18
Drive Palm
5
168
5
2/72 Third
Palm
9
C l e a r a n c e R a t e : 9 2 % T o t a l B i d d e r s : 6 2 T o t a l L i v e B i d s : 9 2 ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD APRIL 2022 14/329 Golden Four Drive Tugun 8
57
10
7 Seaview Parade
25 Crest Drive
4 Clives
1/43 Doubleview Drive
39
C l e a r a n c e R a t e : 1 0 0 % T o t a l B i d d e r s : 6 9 T o t a l L i v e B i d s : 1 5 1 2
20
84
31
12
2/66 Third Avenue Palm
5
Beach
Palm Beach 2 25
Passed in
Tallebudgera
45 1,500,000 1,645,000 Auction
5 44 $750,000 Not Disclosed Auction
Jarrahdale
Elanora 8 22 $1,000,000 - Post
Dogwood
Beach
30 $1,300,000 - Post
Tahiti Avenue Palm Beach
33 $1,000,000 - Post
Avenue
Beach
29 $800,000 $1,125,000 Auction
37 $550,000 $755,000 Auction
Westminster Boulevard Elanora
32 $1,200,000 $1,615,000 Auction
Elanora 28 42 $650,000 $1,082,000 Auction
Elanora 12 34 $1,000,000 $1,500,000 Auction
Circuit Currumbin Waters 7 34 $800,000 - Post
Elanora 30 31 $550,000 Not Disclosed Auction
Mirreen Drive Tugun - 29 - $1,190,000 Prior -
Marion Street Tugun 7 41 $750,000 $945,000 Auction
Forest Drive Elanora 12 42 $1,100,000 $1,520,000 Auction
Cyclades Crescent Currumbin Waters 20 29 $850,000 $1,210,000 Auction
Twelfth Avenue Palm Beach
23 $900,000 $1,425,000 Auction
Beach
18 $650,000 - Post
ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD MAY 2022
C l e a r a n c e R a t e : 1 0 0 % T o t a l B i d d e r s : 4 5 T o t a l L i v e B i d s : 1 0 6
47 Westminster Boulevard Elanora 14
3/29 Port Peyra Crescent Varsity Lakes - 35
$785,000 Sold prior 206-208
Road Currumbin Waters 4
Auction ADDRESS SUBURB LIVE BIDS DOM* START BID FINISH BID SOLD JUNE 2022 C l e a r a n c e R a t e : 8 3 % T o t a l B i d d e r s : 1 0 T o t a l L i v e B i d s : 1 8 1/6
18
1
Close Currumbin
6/18 Bienvenue Drive Currumbin 6 23 $525,000 Post 78 Bergamont Street Elanora 44 32 $850,000 $1,158,000 Auction 2 Clare Court Tallebudgera Valley - 30 - - Post 11 Singh Street Tugun 4 39 $700,000 $- Post 6 Mirreen Drive Tugun 3 37 $850,000 - Post 401/4-10 Douglas Street Coolangatta 5 29 $700,000 - Post 234 Trees Road Tallebudgera - 52 - - Post6 Winders Avenue Tugun 3 45 $800,000 - Post 4 Correa Court Elanora 7 32 $600,000 $850,000 Auction 2 Japonica Drive Palm Beach - - - - Post 32 Wilkinson Crescent Currumbin Waters 10 34 $800,000 - Post 2 Yagoi Hamlet Currumbin Valley 17 31 $950,000 $1,350,000 Auction 39 Mirreen Drive Tugun - 29 - $1,190,000 Prior -
11 Bolgart Court Elanora 7 41 $900,000 - Post
51 $800,000 $1,395,000 Auction
-
Simpsons
31 $1,000,000 $1,550,000
Jodie Street Tugun 8 57 $650,000 - Passed in
Costelloe Street Tugun 9 25 $650,000 - Post
Natures
Valley - 25 - - Prior
1 Daffodil Street SOLD UNDER THE HAMMER BUYER INSPECTIONS PRIOR SOLD UNDER THE HAMMER REGISTERED BIDDERS 60+ $1,850,000 7 CASE STUDY
was very knowledgeable of the local market and
the best strategy
when selling my place she gave me a few options and
we could
the sale Her
the best price
the least
sale
TALLEBUDGERA
"Alicia
what
was
suggested different ways
approach
communication was exceptional and dedication to getting
in
amount of time was second to none. The
was very smooth and done in a professional manner . "
7 Radiata Court SOLD PRIOR CASE STUDY ELANORA BUYER INSPECTIONS PRIOR SOLD PRIOR TO AUCTION WRITTEN OFFERS 45+ $1,280,000 4 "Alicia demonstrated excellent marketing and sales skills on our recent property sale. We were impressed with her professionalism and attention to detail to achieve the result that we had hoped for. We would highly recommend Alicia if you are looking for a local agent that gets you the best results for your property."
MEET GAVIN CROFT
RAY WHITE QUEENSLAND CHIEFJoining the Ray White QLD team in 2021 in his role as Chief Auctioneer, Gavin principally works in the Auction Arena for Ray Whites network of offices throughout the state The award winning Auctioneer & trainer is known for consistently achieving a clearance rate well above the industry average.
MEET CONNOR SUMMERS
CLIENT ADVISOR AT LOAN MARKET GC
Buy your new home sooner Getting on the property ladder doesn't have to be daunting at the same time we can provide you with important information on the suburbs and properties your interested in, our Loan Market Broker Connor can help you secure the right finance for your dream home 0416 838 673 connor,summers@loanmarket com au
MEET
KELLIE TWIDALE
NEW BUSINESS DEVELOPMENT MANAGER
Maximise your investment returns! Kellie looks after our leasing and new business ensuring our clients enjoy a smooth and seamless transition Her drive for success helps to ensure that each of our landlords receive the experience and commitment they deserve 0439 646 kellie twidale@raywhite com
#BETTERTOGETHER
Josh McKenzie Associate to John Parkes
Georgia Lazzaro Associate to John Parkes
"IF YOU WANT TO GO FAST, GO ALONE. IF YOU WANT TO GO FAR, GO TOGETHER"
John Tymon Principal
Caroline Tymon Accounts/Contracts
John Parkes Selling Principal Courtney Tymon Strategic Operations
Erin Dawe EA to John Parkes
Property
Daniel Jeffries
Consultant
Ken Jacob
Property Consultant
Shane Seghers Property Consultant
Alicia Wilkins
Property Consultant
Dion
Zorko Property Consultant
Property
Daniel Tavener
Consultant
Property
Laura Robinson
Consultant
Robbie Robinson
EA to Team Robinson
Camilla
Skye
Stephen Hay
Property Consultant
Jon Blake
Property Consultant
Jesse Richards
Property Consultant
Slimane Benzayed
Property Consultant
EA
Kelsey Noble
to Team Robinson
Property
Alex Phillips
Consultant
EA
Reece Berger
to Dion & Daniel
Mekayla
Quinn Elanora Sales Support
Emily
Pye Tugun Sales Support
Tup Curtis Marketing & Events
Mick Main Database Specialist
PM
Kelly Walker Head of
James Mulholland Commercial Specialist
Leasing & New Business
Kellie Twidale
Sharyn Haag
PM
Sarah Goodman
Assistant
Kris Klavina
PM Assistant
Property Consultant
Michaela Schratzberger
Property Manager Receptionist
Alicia Wilkins
Ray White Tugun Elanora
0402 630 593 07 5598 2577 alicia wilkins@raywhite com www raywhitetugunelanora com au
