Why taking your Gold Coast home to auction is a good idea
Luke Henderson and Andrew Henderson. Picture: Jerad WilliamsA Miami apartment and Mermaid Waters house were among the top sales, fetching $1.3 million and $1.4 million respectively, while four others sold under the hammer.First National Real Estate Surfers Paradise is another agency due to hold its summer auction next week.“Out of the 16 we’ve got, there’s three already that have sold,” agent Russell Rollington said. “After the auction, generally we do find most do sell.” Ray White Surfers Paradise Group’s chief executive Andrew Bell.Latest CoreLogic data to October showed houses on the Gold Coast were taking 41 days to sell while units were taking 52 days. In the same period the previous year, it was six and 11 days respectively.“It’s actually more important to auction a property now than it is at any other time,” Mr Bell said.He said the market was in the “correction phase” of its cycle following years of strong-yet-steady growth, which was ideal for buyers as prices became more realistic.MORE NEWS: Gold Coast set to shine in 2019 More than 100 properties will go under the hammer at Ray White Surfers Paradise’s mega-auction The Event on Monday. Picture Glenn HampsonHOMEOWNERS keen to sell their Gold Coast properties are better off taking them to auction now more than ever, a leading real estate expert says.While the Coast market is tipped to defy a national downturn led by Melbourne and Sydney, properties are taking longer to sell.Ray White Surfers Paradise Group chief executive Andrew Bell said this was one of the biggest issue for sellers.“The longer a property sits on the market for sale, the more buyers wonder what’s wrong with it,” he said.Mr Bell said the aim of an auction was to sell either before the date, under the hammer or in the following days.“The purpose of an auction is to bring forward enquiries,” he said. More from news02:37International architect Desmond Brooks selling luxury beach villa13 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoHis comments come during the Coast’s traditionally busy summer auction period, in which many agencies hold events where multiple properties go under the hammer.Ray White Surfers Paradise Group’s boom auction, The Event, will be held on Monday. More than 100 properties will go under the hammer, from waterfront mansions and rural retreats to family homes and one-bedroom apartments. MORE NEWS: Former prize home sells in five days The Event is the biggest auction event in the country.Some of the standouts include a waterfront mansion on T E Peters Drive and an eclectic Queenslander at Tallebudgera Valley.John Henderson Professionals Real Estate held its summer auction event last week.Principal Andrew Henderson said about 200 people attended the event with 54 registered bidders.“That’s a reasonably good show that there’s still some confidence in the Gold Coast market,” he said.“Given our numbers on Tuesday night, I think auctions will continue to be well attended (and) they will still continue to produce good results.”Agency director Luke Henderson said 80 per cent of the properties sold on the night or were under negotiation.