Gold Coast apartment auctions get underway in 2022

Around 57 apartments were put up for sale across the near seven hour auction.

Gold Coast apartment auctions get underway in 2022
Gold Coast apartment auctions get underway in 2022

Ray White Surfers Paradise Group kicked off the 2022 auction season with 77 residential properties listed for auction at the 30th annual The Event on Sunday.

Around 57 were apartments put up for sale across the near seven hour auction. 

“This is a day when so many dreams come true for our sellers and buyers,” Ray White Surfers Paradise Group auctioneer Andrew Bell said. 

By mid-afternoon the preliminary auction clearance rate was 80 per cent of the residential and commercial properties.

But this trailed off with few of the final dozen offerings being sold.

“The most satisfying thing for me is that most properties are selling well over their reserves," Mr Bell said. 

"We’ve seen some strong bidding from the floor and online but it's mostly locals in the room bidding.

Mermaid Beach local Rod McIvor snapped up the first property on the order of sale, which was one of the cheapest of sales.

The telco technician secured 4/26 Holland Court, Broadbeach Waters for he and his daughter for $388,000.

The two bedroom ground floor apartment on a lowrise block last sold at $135,000 in 1999. It was offered as a deceased estate.

“Honestly I am so happy to have picked up a property so close to everything for under $400,000, that’s good buying,” Mr McIvo said, who had been looking and saving up for more than six months.

“The market is still very competitive. I've been to a lot of open homes where there have already been 4-5 offers submitted. I am glad to have found our new home.”

The deceased estate was marketed by Ray White Surfers Paradise agent Glen Williams who had four registered bidders.

Chevron Island locals Rhonda and Ron Emmett fought off nine other registered bidders to secure 2541/9 Ferny Ave, Surfers Paradise for $1.625 million, one the of dearest sales.

The 3 bed, 2.5 bathroom apartment on the 54th floor of the Circle on Cavill building last sold in 2018 at $1,225,000, and initially at $1.7 million in 2006.

“We were attracted to Circle on Cavill for its facilities as we have already had a unit there up until a month ago when I sold it,” Ms Emmett said. 

“We were only looking at properties that were central and where we could walk to the shops without needing the car. We didn’t want any steps either.” 

Agent Henk Schreurs said the apartment had been sold by Sydney investors. The highest apartment sale was at $2.4m for 1352/23 Ferny Avenue, a 286sqm sub-penthouse in the Chevron Renaissance which sold through agent Jackson Paradise.

The unsold apartments included a heritage listed apartment in Surfers Paradise.

The 4D 34 Hanlan Street offering saw a $100,000 opening bid with two bidders taking the bidding to $170,000 when it was passed in.

The apartment last sold at $155,000 in 2016.

The partly furnished one bedroom apartment has ocean views from the 4th floor of Kinkabool.

The 53sqm apartment is tenanted at $285 a week until May 2022.

Buyers were given a prospective rent appraisal of $300 to $350 a week.

The body corporate is $68 a week, plus council rates of $41 a week, and water rates of $20 a week.

The total sales figure was around $68m from 101 properties, with over two dozen sold before the auction. There were 54% of bidders local and 46% interstate with 78% of the buyers being in room. There were over 600 registered bidders. The lowest sale was a Surfers Paradise apartment at $336,000.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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