Buyer Confidence Soars as Ray White Conducts The Auction Event

It was grand final day on Sunday, 27 September 2015 for the Ray White Group as they held the largest In-Room Auction Event ever seen on the Sunshine Coast.

With standing room only remaining at Garry Cricks Mercedes Benz dealership, over 400 buyers scrambled for seating and some hanging over the balustrades as they witnessed 41 properties go under the hammer.

Ray White Group Auctioneer, Dan Sowden has reported “We were even surprised as to the confidence of the bidders; competition was fierce with some properties selling up to 10% over reserve price. The market is clearly in the midst of an upswing.”

“We had buyers drive up from Brisbane and further West just for the day, and an open way to research the market. Others were more selective arriving for the 1 or 2 properties in which they held interest in.”

Of the 41 properties that were offered, 12 have been sold and there are negotiations still continuing from auction day on a further 14. “We expect that by the end of the week, up to 70% of the property will be under contract from auction day.”

“What was surprising to us was the number of buyers that registered to bid on several properties without even viewing them; to see this first hand was amazing, the confidence buyers are showing in the coastal market is impressive.”

“It was a great effort by all our team, we had our entire Administration support and Property Management teams involved in the day, most were involved with handling the crowd and facilitating the bidder registrations and contract signing. There was a record 65 bidders registered with some buyers bidding on multiple properties.”

The Ray White Auction Event was supported by the offices of Ray White Maroochydore, Buderim, Mooloolaba, Sippy Downs, Noosa and Peregian.

Photo courtesy of CB Visuals