A massive $33 million worth of properties changed hands at the Sunshine Coast’s biggest auction event of the year, flying in the face of a nation-wide slump in property values.
Twenty-four properties were sold, including a $5m penthouse at Cotton Tree, at the annual Ray White Coastal Living Network Auction at Mercedes Benz in Maroochydore.
There were 66 properties on offer and more than 160 registered bidders.
Event auctioneer and Ray White Mooloolaba director/sales and marketing James Goldworthy said there was “good competition”, despite recent reports of a slump in property values on the Sunshine Coast and around Australia.
“There were just as many people in attendance and just as much competition for properties as last year,” he said.
“It was impressive. The energy in the room was electric.”
The average property sale was about $1.37m and 14 properties were sold for between $1m and $2.5m.
“From the bottom end to the top end, there was enough data to support the view that we’re still in pretty good stead,” Mr Goldsworthy said of the real estate climate.
The auction’s flagship property, a penthouse at award-winning Rise Maroochydore at Cotton Tree, attracted four bidders. No.102/67 Sixth Avenue was ultimately sold for $5m.
“It’s pretty spectacular,” Mr Goldsworthy said. “It was encouraging to see such strong interest on such high-calibre and high-priced real estate.
“It’s one the best units in one of the region’s premier complexes.”
The penthouse was dubbed “the most desirable beachfront home in Maroochydore” in the sale pitch.
It boasts two levels, four bedrooms, three bathrooms and three car spaces, with stunning views up and down the coastline and it’s walking distance to the beach and the Maroochydore CBD.
Fellow event auctioneer and Ray White Maroochydore director Dan Sowden said the penthouse sale was remarkable.
“It’s probably the most-expensive apartment sold at auction in the Maroochydore region for some time,” he said.
He said the auction event bucked the perception of slumping property prices.
“There is a fair bit of negativity at the moment around (increasing) interest rates in the media, but it really didn’t play out at the event,” he said.
“We averaged 2.5 bidders per auction and the bidding was strong across the board.
“To have a clearance rate of 41 per cent on one day with such volume of stock on the Sunshine Coast is extraordinary.”
A grand house in Buderim was among the other properties to be sold.
There were six bidders for No.13 Royal Pine Drive, which was ultimately sold for $1.5m to a young family who had relocated to the region and had been looking for nine months for a place to call their own.
“It was sold for a much higher price than the owner expected,” Mr Goldsworthy said.
The 1122sqm property with six bedrooms and three bathrooms has plenty of charm and glamour, as well as high ceilings and feature windows.
Mr Goldsworthy said the sale price exceeded expectations because of the property’s size and location.
“It’s a bigger block, a bigger home and a good residential area,” he said.
“So, it ticked a lot of boxes for families.”
Mr Goldsworthy said many of the properties that did not sell at the auction event (held annually since 2015) were expected to be sold within days.
“You will see that clearance rate rise to more than 60 per cent during the next seven to days, I’m sure of it,” he said.
SUBSCRIBE here now for our FREE news feed, direct to your inbox daily!
Auction results
Selection from the Ray White Ray White Coastal Living Network Auction
1102/67 Sixth Avenue, Maroochydore.
- Sold under the hammer for $5m.
- 4 Bed, 3 Bath, 3 Car.
- Ray White, Reuben Park.
06 Nyes Crescent, Buderim
- Passed in, contact agent.
- 4 Bed, 3 Bath, 2 Car, Pool.
- Ray White, Jake Loiero.
1/238 Wises Road, Buderim
- Sold under the hammer for $560,000
- 3 Bed, 2 Bath, 1 Car.
- Ray White, Jake Loiero.
11 Gumtree Drive, Buderim
- Passed in, contact agent.
- 5 Bed, 3 Bath, 2 Car, Pool.
- Ray White, Jake Loiero.
18 Water Street, Buderim
- Sold under the hammer for $622,000.
- 3 Bed, 2 Bath, 1 Car.
- Ray White, Jake Loiero.
36-40 Apps Road, Maroochy River
- Sold under the hammer for $1.71m
- 4 Bed, 2 Bath, 5 Car.
- Ray White, Pam Thomas/Megan Murray.
191 Panorama Drive, Rosemount
- Passed in, contact agent.
- 4 Bed, 1 Bath, 1 Car, Pool.
- Ray White, Pam Thomas/Megan Murray.
448/180 Alexandra Parade, Alexandra Headland
- Sold prior to auction
- 3 Bed, 3 Bath, 2 Car.
- Ray White, Pam Thomas/Megan Murray.
07 Wren Crescent, Buderim
- Passed in, contact agent.
- 4 Bed, 2 Bath, 5 Car.
- Ray White, Pam Thomas/Megan Murray.
40 Lauren Drive, Buderim.
- Sold under the hammer for $830,000.
- 5 Bed, 2 Bath, 2 Car.
- Ray White, Kathryn Wilshire
3 Montage Court, Buderim
- Passed in, contact agent.
- 5 Bed, 2 Bath, 4 Car.
- Ray White, Kylie Kis.
20 Sarina Place, Maroochydore
- Sold under the hammer for $1.3m.
- 4 Bed, 2 Bath, 2 Car.
- Ray White, Sarah-Louise Anderson.
2/13 Ballinger Court, Buderim
- Sold under the hammer for $520,000.
- 2 Bed, 1 Bath, 1 Car.
– Ray White, Brent Higgins.
10 Richards Street, Maroochydore
- Sold under the hammer for $1.43m.
- 4 Bed, 2 Bath, 2 Car.
- Ray White, Reuben Park.
301/6 Wharf Street, Maroochydore
- Sold under the hammer for $1.7m.
- 3 Bed, 2 bath, 1 Car.
- Ray White, Niall Molloy.
10 Magpie Street, Nambour
- Sold under the hammer for $605,000.
- 4 Bed, 2 Bath, 3 Car.
- Ray White, Michael Scott.
6 Ibis Court, Parrearra
- Sold under the hammer for $2.1m
- 5 Bed, 3 Bath, 2 Car.
- Ray White, Will Van Den Dungen.
01 Timana Lane, Maroochydore
- Sold under the hammer for $1.175m.
- 4 Bed, 3 Bath, 2 Car.
- Ray White, Jason Mills.
2506/1A Mungar Street, Maroochydore
- Sold under the hammer for $605,000.
- 2 Bed, 2 Bath, 2 Car.
- Ray White, Niall Molloy.
39 Lurnea Crescent, Mountain Creek
- Sold under the hammer for $1.16m.
- 4 Bed, 2 Bath, 2 Car.
- Ray White, Alex Dennien.
301/14 Aerodrome Road, Maroochydore
- Sold under the hammer for $665,000.
- 2 Bed, 2 Bath, 1 Car.
- Ray White, Candice Contencin.
32 Balemo Street, Minyama
- Sold under the hammer for $1.46m.
- 4 Bed, 3 Bath, 2 Car.
- Ray White, Brent Higgins.
20 Almaden Lane, Maroochydore
- Sold under the hammer for $1.145m.
- 4 Bed, 2 Bath, 3 Car.
- Ray White, Sarah-Louise Anderson.
13 Royal Pine Close, Buderim
- Sold under the hammer for $1.5m.
- 6 Bed, 3 Bath, 2 Car.
- Ray White, Alex Dennien.
12 Honeysuckle Court, Buderim
- Sold under the hammer for $895,000
- 5 Bed, 3 Bath, 3 Car.
- Ray White, Natalie & Mitch Sinclair.
350 Glenview Road, Glenview
- Sold under the hammer for $1.35m.
- 5 Bed, 3 Bath, 4 Car.
- Ray White, Alisha Galea.
87 Ikley Road, Eudlo
- Sold under the hammer for $1.06m
- 4 Bed, 2 Bath, 5 Car.
- Ray White, Kathryn Willshire.
63 Nicklin Way, Warana
- Sold under the hammer for $700,000.
- 4 Bed, 1 Bath, 4 Car.
- Ray White, Ryan Cramer.
520/102 Alexandra Parade, Alexandra Headland
- Sold under the hammer for $460,000.
- 1 Bed, 1 Bath, 1 Car.
- Ray White, Candice Contencin.
Selection of other auction results
8 Beach Haven Place, Mount Coolum
- Sold for $1.8m.
- 4 Bed, 2 Bath, 2 Car, Pool.
- North Shore Reality, Jay Pashley.
36 Gilbert Street, Buderim
- Passed in, offers over $1.65m
- 5 Bed, 3 Bath, 2 Car, Pool.
- The Agency, Dan Smith.
12 Le Claire Place, Buderim
- Passed in at $910,000.
- 5 Bed, 2 Bath, 2 Car.
- Ray White, Drew Colliver.
14 Monks Crescent, Buderim
- Sold under the hammer for $814,000.
- 3 Bed, 2 Bath, 2 Car.
- Ray White, Brodie Rodgers/Jai Bellhouse.
56 Cavalry Way, Sippy Downs
- Passed in, contact agent.
- 4 Bed, 2 Bath, 2 Car.
- Ray White, Gregory Ward.
8 Beach Haven Place, Mount Coolum
- Sold for $1.8m.
- 4 Bed, 2 Bath, 2 Car, Pool.
- North Shore Reality, Jay Pashley.
