Low stock levels keep prices high
Voracious is a great word to sum up the appetite for Gold Coast real estate right now.
Locals looking for a lifestyle upgrade are lining up alongside new residents relocating from interstate and those shopping for a seaside holiday home.
Investors are also turning back to property for fear of inflation and our team is fielding ever more enquiry from expats purchasing ahead of a planned move home.
Buyers are hungry and the supply of properties for sale just can’t keep up with the demand.
The number of new listings tanked across Queensland last month and active listings also fell as existing stock was consumed by eager buyers.
Across regional Queensland new listings dropped by 14.8 percent in April compared to March while active listings reduced by 5.1 percent.
Prestige real estate across the city is being snapped up as quickly as it comes to market.
Grant Hackett’s villa on Hedges Avenue was just 5 days on the market before Kollosche secured a winning pre-auction offer of $2,650,000.
Determined buyers with deep pockets also swooped on 28 Buccaneer Court, Paradise Waters (sold for $3,300,000) and 11 Freyburg Street, Sorrento (sold for $2,300,000) prior to the scheduled auctions.
Bidding activity remains high for those properties that do make it to auction.
Last night’s onsite auction at 3134 Riverleigh Drive, Hope Island saw a local buyer claim the keys with a winning bid of $1,825,000.
Last weekend six bidders registered for a tilt at an original hilltop holding with ocean views at 64 Woodgee Street, Currumbin which sold under the hammer for $2,980,000.
Interest has been high on a waterfront Broadbeach Waters residence with a north-east aspect which will be auctioned at 11am onsite at 53 T E Peters Drive this Sunday.
Kollosche’s auction clearance rate sits at 89 percent for the financial year to date with healthy competition among multiple bidders driving impressive price points.
Sales momentum shows no sign of slowing down as we move into June when glorious winter weather makes the Gold Coast even more appealing.
If there is anything our team can assist you with this week, please don’t hesitate to reach out.
