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Success for Queensland’s Biggest Online Auction Event

By Dannye McFaul

Last night’s Origin win wasn’t the only thing Queenslanders had to celebrate with leading auction house, Ray White, recording an 75 per cent clearance rate for the state’s biggest online auction event.

The online auction event featured 54 properties going under the hammer from Ray White Queensland businesses Tugun | Elanora, Sherwood | Graceville and Coomera, Upper Coomera, Pimpama and Jacobs Well.

There were a massive 2,020 viewers who tuned in online with over 250 registered bidders, coming from all over Australia and overseas. By the end of the night, more than $33 million worth of property had been transacted under the hammer of Ray White Queensland chief auctioneer Gavin Croft (pictured above), who took a whooping 566 bids over the course of the event.

“Many of Ray White Queensland’s finest auction practitioners joined forces to present 54 properties across the southern and northern end of the Gold Coast as well as Brisbane’s west,” Mr Croft said.

“The active bidding ratio was the highest I’ve seen for some time with more than 200 registered bidders competing for some of the area’s best properties.

“Buyers were primarily local owner occupiers, but investors were also active, particularly across the apartment market.

“Current clearance sits at 75 per cent with the likelihood of that surpassing 80 per cent over the next 48 hour window post auction. An impressive result and an indictment of the quality of auction agents that came together.”

New South Wales may not have been able to get a win on the field but they showed up last night and bid ferociously.

“With over 2000 people online there were viewers right across Australia, with New South Wales buyers the most prevalent of the interstate buyers on the auction floor,” Mr Croft said.

“Viewers from across five different countries made the time to view and observe the market here in south-east Queensland in real time and feel the energy and pulse of the current market.”

The top sale of the event was 26 Tallebudgera Dr, Palm Beach through Ray White Tugun | Elanora agents Stephen Hay and Ken Jacob. They sold the property for $2.01 million, which soared past its $1.8 million reserve, to two young friends planning to develop the block.

“The buyers were two friends, one is a builder with experience in high end developments so they are planning to develop the block,” Mr Hay said.

“The block has the capability to have four townhouses on it or ideally a really upmarket duplex pair.

“It has been in the family for a long time, they had rented it out for the last 14 years to the same tenants but it was time for it to be sold. The seller jokingly said, if it reached $2 million then she’d take the day off and she has.

“We had 23 groups go through during the campaign but had a huge amount of enquiry and a bit of interstate enquiry as well.

“Out of the nine registered bidders, three were interstate buyers – a couple from New South Wales and one from Victoria.”

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