Gold Coast auction market weakest in the country: CoreLogic

Gold Coast auction market weakest in the country: CoreLogic
Gold Coast auction market weakest in the country: CoreLogic

The Gold coast showed continued weakness with a clearance rate of just 35 percent at auction last weekend, a drop of more than seven percent then their performance last week.

Of the 58 residential properties taken to auction only 20 were successfully sold indicating a clearance rate more than 20 percent worse than the combined capital city average, according CoreLogic. 

A clearance rate of 55.5 percent across the combined capital cities was recorded this week, increasing from last week’s final clearance rate of 51.8 percent while over the same week last year the final clearance rate was recorded at 66.2 percent.

There were 2,404 homes taken to auction across the combined capital cities this week, an increase of over 20 percent from 1,983 over the previous week.

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Gold Coast auction market weakest in the country: CoreLogic

A property listed for auction on the Gold Coast last weekend was 44 Yarrayne Valley Drive, Upper Coomera (pictured above).

The home which in 2015 underwent a rebuild worth $250,000 is set on a holding of 1.39 hectares.

It is a 5 bedroom three bathroom home which last sold for $360,000 in mid 2014.

Gold Coast auction market weakest in the country: CoreLogic

Another house listed for auction last weekend on the Gold Coast was 97 Dutton Street, Coolangatta (pictured above).

The three bedroom one bathroom home is now listed at $695,000.

Set on 465 sqm, the home has never been traded before.

 Gold Coast auction market weakest in the country: CoreLogic

A Gold Coast home listed for auction after being sold just over a year ago was 1360 Gold Coast Highway, Palm Beach (pictured above).

The home sold for $740,000 in June 2017, zoned medium density residential and Code Assessable (potentially permitting up to a 9 storey or 29 metres building height).

It is a two bedroom one bathroom house set on 412 sqm.

It remains for sale.

 

Tags: 
Gold Coast Auction Numbers

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