Surfers Paradise joins Reservoir as busiest auction suburb

Surfers Paradise joins Reservoir as busiest auction suburb
Surfers Paradise joins Reservoir as busiest auction suburb

Reservoir in Victoria, one of the most consistently busy suburbs, has been joined by Surfers Paradise as the busiest auction markets this weekend, according to CoreLogic.

Each have 19 auctions scheduled.

Burwood and Point Cook are the next busiest suburbs with 14 auctions scheduled each.

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Surfers Paradise joins Reservoir as busiest auction suburb

Overall activity is tracking lower this week than last.

In total there are 1,592 properties scheduled for auction, down from last week's 1,915 auctions held.

It's also lower than the total this time last year, which saw 1,751 auctions held across the capital city markets.

Of the 19 auctions in Surfers Paradise, arguably the most interesting is a three bedroom apartment in the Chevron Renaissance Towers on Ferny Avenue.

The 24th floor apartment traded for $590,000 in 2013 when there were $769,000 hopes.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Surfers Paradise Residential Auctions

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