2021/22 FY
JOHN PARKES
RESERVES ARE RISING While market forces took unpredictable turns though much of last financial year, there was no denying the success of auctions in the local market from the second half of 2021.
Historically in Australia, private treaty has been the most common sale method for property. List a home for a price that reflects market value, receive offers from buyers, negotiate and accept an offer that meets the needs of both parties Taking a property to auction removes a set price from the equation, which has traditionally been seen as a barrier to entry, particularly for first home buyers. Without the benefit of a cooling off period, auctions have typically only attracted certain kinds of buyers - those who can meet the unconditional circumstances of buying on the day. While auctions have always produced the best results when the market is strong, not surprisingly, what began to play out in the auction space in 2021 defied any historic precedent. Across the country, the number of properties clearing at auction rose steadily through May and June as a shortage of supply was met with strong demand. What was perhaps most surprising was the average number of bidders per auction actually increased through the worst months of pandemic, with numbers higher then pre-Covid. The strategic move to online auctions by the Ray White Group nationwide enabled sellers and buyers to transact safely and transparently through this period, which contributed to the increase in both numbers and confidence. Combined with government stimulus, loan pre-approvals also rose to record levels. Loan Market recorded its highest month of settlements - topping $1 billion in loans - in May 2021. This wave of new, pre-approved buyers was now entering the market and able to compete at auction. Gavin Croft, Chief Auctioneer for Ray White Corporate Queensland said the southern Gold Coast has been a standout market across Queensland so far this financial year. "The sheer volume of enquires and inspections has been overwhelming which is being translated through to a record number of bidders across our 24 auction events. Ray White Tugun/Elanora currently holds a clearance of 92.5% of auctions selling under the hammer or prior to auction this financial year.
"Our online audience continues to grow as buyers, sellers and interested members of the community tune in every fortnight. Watching a number of our auctions sell for record prices is giving many sellers confidence to list, with auction being the preferred method of choice for any seller looking to achieve the markets best price"
Why auctions, why now? In a seller's market like the one seen in the back half of 2021 through to now, an auction creates the conditions to leverage competition between buyers, often pushing the price beyond what could be achieved through a traditional private treaty sale, where the presence of competition is not felt as highly
2021/22 FY Snapshot ONLINE AUCTION
87%
RWTE Current Auction Clearance Rate The switch to Online Auctions has proven to be an effective and popular method with both buyers & sellers
$102,965,000 $6,259,025 2000+
People have streamed our Auction online
Worth of Property Sold so far this financial year
Earnt above Reserve Price at Auction
645
Registered Bidders across 110 properties
RWTE 21/22 FY Results ONLINE AUCTION
JULY 2021 LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Tugun
35
-
$600,000
$971,000
Auction
14 Jandakot Court
Elanora
32
21
$900,000
$1,160,000
Auction
10/49 Dutton Street
Coolangatta
17
24
450,000
$590,000
Auction
13/462 Coolangatta Road
Tugun
16
27
500,000
$690,000
Auction
5/543 Gold Coast Highway
Tugun
7
16
$400,000
$675,000
Auction
79 Leyte Avenue
Palm Beach
3
45
$700,000
$600,000
Auction
11 Karragata Court
Tallebudgera
2
6
$900,000
$1,250,000
Post
1/12 Kallara Street
Tugun
2
6
$900,000
$1,250,000
Auction
38 Wyberba Street
Tugun
-
-
-
$1,225,000
Prior
ADDRESS
SUBURB
5 Wickham Terrace
C l e a rDouglas a n c e R a Street t e : 1 0 0 % Coolangatta T o t a l B i d d e r s : 52 6 301/4-10
T o t a l L26 i v e B i d s$750,000 : 26 T o t a l O$985,000 v e r R e s e r v e s : $ 5Auction 85,000
9/67 Doubleview Drive
Elanora
10
23
$700,000
$865,000
Auction
2/11 Cupania Place
Elanora
5
20
$400,000
$611,000
Auction
36/437 Golden Four Drive
Tugun
-
-
-
$600,000
Auction
35/40 Teemangum Street
Currumbin
6
17
$500,000
$615,000
Auction
Clearance Rate: 92%
Total Bidders: 44
Total Live Bids: 154
AUGUST 2021 START BID
FINISH BID
SOLD
29
$1,300,000
$1,650,000
Auction
16
61
$1,000,000
$1,540,000
Auction
Currumbin Waters
16
22
$500,000
$783,000
Auction
Elanora
-
-
-
$960,000
Prior
ADDRESS
SUBURB
LIVE BIDS
1/319 Golden Four Drive
Tugun
7
11 Kimmuli Drive
Elanora
60 Clives Circuit 28 Hibertia Avenue
DOM*
AUGUST 2021 CONTINUED ADDRESS
SUBURB
LIVE BIDS
1/9 Panorama Drive
Currumbin
START BID
FINISH BID
SOLD
14
23
$1,000,000
$1,550,000
Auction
-
-
-
Post
$900,000
$1,115,000
Auction
$500,000
$870,000
Auction
218 Simpsons Road
Currumbin Waters
6
24 Crest Drive
Elanora
11
179 Simpsons Road
Elanora
23
Clearance Rate: 87%
DOM*
23 17
Total Bidders: 63
Total Live Bids: 93
SEPTEMBER 2021 LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Elanora
80
18
$750,000
$1,523,000
Auction
99 Monday Drive
Tallebudgera Valley
5
21
$1,320,000
$1,575,000
Auction
230 Cypress Terrace
Palm Beach
17
24
$1,000,000
$2,020,000
Auction
20 Correa Court
Elanora
-
-
-
$1,145,000
Prior
54 Forest Drive
Elanora
-
-
-
$1,335,000
Prior
5a & 5b Weeumba Street
Currumbin
25
31
$1,200,000
$1,600,000
Auction
2/27 Fifth Avenue
Palm Beach
8
31
$700,000
$1,060,000
Auction
60 Doubleview Drive
Elanora
14
33
$1,020,000
$1,410,000
Auction
3/6 Teemangum Street
Tugun
5
29
$450,000
$680,000
Auction
5 Numidia Street
Tugun
20
24
$700,000
$1,015,000
Auction
8 Ajax Court
Currumbin Waters
9
21
$750,000
$1,100,000
Auction
ADDRESS
SUBURB
4 Betony Court
Clearance Rate: 100%
Total Bidders: 117
Total Live Bids: 183
OCTOBER 2021 LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Palm Beach
13
18
$700,000
-
Post
89 Toolona Street
Tugun
-
-
-
$1,127,500
Prior
38 Durran Street
Tugun
5
30
$700,000
-
Passed In
23 Ottelia Drive
Elanora
16
24
$900,000
$1,075,000
Auction
14 Tierney Drive
Currumbin Waters
20
29
$800,000
$1,620,000
Auction
ADDRESS
SUBURB
53 Waikiki Avenue
OCTOBER 2021 CONTINUED LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Currumbin Waters
9
17
$800,000
$1,225,000
Auction
10/1266 Gold Coast Highway
Palm Beach
14
14
$500,000
$645,000
Auction
11007/1328 Gold Coast Highway
Palm Beach
5
30
$650,000
-
Post
7/14 Bolton Street
Coolangatta
8
25
$850,000
$920,000
Auction
27 Cornwall Drive
Elanora
-
-
-
$1,225,000
Prior
ADDRESS
SUBURB
5 Michel Drive
2/5 Hillcrest Avenue
Tugun
7
16
$650,000
$890,000
Auction
23/560 Gold Coast Highway
Tugun
20
31
$500,000
$640,000
Auction
2/34 Fourth Avenue
Palm Beach
9
$850,000
$1,060,000
Auction
Clearance Rate: 92%
24
Total Bidders: 65
Total Live Bids: 181
NOVEMBER 2021 START BID
FINISH BID
SOLD
-
-
$1,200,000
Prior
-
-
-
$595,000
Prior
Tugun
5
18
$700,000
-
Passed in
4/67-69 Doubleview Drive
Elanora
-
-
-
$595,000
Passed in
4 Pinecone Court
Elanora
26
23
$890,000
$1,215,000
Auction
ADDRESS
SUBURB
LIVE BIDS
6 Jarrahdale Drive
Elanora
-
25/3 Millers Drive
Elanora
18 Currant Street
DOM*
6 Bielby Street
Tugun
12
19
$1,150,000
$2,035,000
Auction
44 Monash Street
Tugun
15
24
$850,000
$1,150,000
Auction
55 Kitchener Street
Tugun
11
28
$900,000
$1,170,000
Auction
38 Casuarina Drive
Elanora
-
-
-
$1,150,000
Prior
5 Pall Mall Avenue
Currumbin
7
21
$1,600,000
$2,150,000
Auction
Clearance Rate: 91%
Total Bidders: 71
Total Live Bids: 76
DECEMBER 2021 LIVE BIDS
DOM*
Tugun
10
Tugun
-
ADDRESS
SUBURB
39/329 Golden Four Drive
1 Castle Court
START BID
FINISH BID
SOLD
49
$700,000
$950,000
Auction
52
-
$1,335,000
Prior
DECEMBER 2021 CONTINUED LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Elanora
-
22
-
$1,030,000
Prior
3 Aringa Way
Tallebudgera
-
-
-
-
Post
1 Daffodil Street
Tallebudgera
11
37
$1,000,000
$1,850,000
Auction
7 Radiata Court
Elanora
-
65
-
$1,280,000
Prior
8 Vista Street
Elanora
-
38
-
-
Post
6 Sumach Place
Palm Beach
12
37
$850,000
$1,285,000
Auction
3/18 Tomewin Street
Currumbin
7
34
$500,000
$755,000
Auction
ADDRESS
SUBURB
25 Balsa Avenue
Clearance Rate: 77%
Total Bidders: 31
Total Live Bids: 40
JANUARY 2022 LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Currumbin Waters
11
35
$1,000,000
$1,350,000
Auction
84 Ironbark Street
Elanora
16
41
$1,000,000
$1,595,000
Auction
1601/10 Fifth Avenue
Palm Beach
5
32
$600,000
-
Passed in
81 Saffron Street
Elanora
-
23
-
$875,000
Prior
19 Cosmos Court
Elanora
25
26
$700,000
$1,265,000
Auction
3 Kukulies Court
Currumbin Waters
11
47
$1,100,000
$1,475,000
Auction
226 Galleon Way
Currumbin Waters
13
28
$1,500,000
$2,510,000
Auction
3 Jalinda Court
Currumbin Valley
7
29
$1,300,000
$2,500,000
Passed in
782 Pacific Parade
Currumbin
7
34
$4,000,000
-
Passed in
7/14 Wilpark Crescent
Currumbin Waters
5
25
-
$750,000
Auction
62 Monash Street
Tugun
5
26
$850,000
$1,050,000
Auction
5 Chown Avenue
Currumbin Waters
9
29
$1,900,000
$2,220,000
Auction
28 San Michele Street
Tugun
-
31
-
$1,368,500
Prior
425 Golden Four Drive
Tugun
0
24
-
-
Passed in
ADDRESS
SUBURB
6 Aegean Way
Clearance Rate: 71%
Total Bidders: 89
Total Live Bids: 114
FEBRUARY 2022 LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Robina
16
17
$700,000
$1,100,000
Auction
22 Saffron Street
Elanora
10
24
$650,000
-
Passed in
15 Foch Street
Tugun
10
36
$650,000
$860,000
Auction
9 Grampian Court
Reedy Creek
3
-
$900,000
$1,390,000
Auction
1/131 Golden Four Drive
Bilinga
-
29
-
$755,000
Prior
60 Bergamont Street
Elanora
13
26
$800,000
$1,130,000
Auction
97 Casuarina Drive
Elanora
4
24
$700,000
$960,000
Auction
41 Kitchener Street
Tugun
6
23
$800,000
$1,125,000
Auction
4 Elizabeth Street
Tugun
7
43
$3,000,000
-
Passed in
100 Cyclades Crescent
Currumbin Waters
22
39
$1,400,000
$2,665,000
Auction
13 Castle Court
Tugun
-
38
-
$1,300,000
Prior
4 Blackwood Place
Palm Beach
5
42
$1,500,000
$2,175,000
Auction
524 Gold Coast Highway
Tugun
7
32
$1,000,000
-
Passed in
7a Cherub Street
Tugun
6
$700,000
$925,000
Auction
7b Cherub Street
Tugun
5
$550,000
-
Passed in
ADDRESS
SUBURB
104 Glen Eagles Drive
11 2 Dilgara Street Tugun Clearance Rate: 71% Total Bidders: 31 Clearance Rate: 69%
31 31
24 $700,000 $1,285,000 Auction Total Live Bids: 49 Total Over Reserves: $140,000
Total Bidders: 99
Total Live Bids: 115
MARCH 2022 LIVE BIDS
DOM*
START BID
FINISH BID
SOLD
Bilinga
33
19
$900,000
$1,200,000
Auction
3/88 Sarawak Avenue
Palm Beach
5
20
$500,000
$600,000
Auction
62 Coolibah Avenue
Palm Beach
10
21
$1,100,000
$1,605,000
Auction
7 Doolee Court
Currumbin Valley
4
29
$1,200,000
$1,440,000
Auction
32 Tallebudgera Crk Rd
Burleigh Heads
3
26
$1,500,000
-
Passed in
3 Calver Court
Currumbin Waters
-
23
-
$950,000
Prior
102/955 GC Highway
Palm Beach
-
24
-
$720,000
Prior
ADDRESS
SUBURB
1/287 Golden Four Drive
MARCH 2022 CONTINUED DOM*
START BID
5
44
Palm Beach
2
15-17 Brahman Court
Tallebudgera
7
4 Jarrahdale Drive
Elanora
18 Dogwood Drive
ADDRESS
SUBURB
3 Beacon Court
Elanora
32 Palm Beach Avenue
LIVE BIDS
FINISH BID
SOLD
$750,000
Not Disclosed
Auction
25
$1,000,000
-
Passed in
45
1,500,000
1,645,000
Auction
8
22
$1,000,000
-
Passed in
Palm Beach
5
30
$1,300,000
-
Passed in
168 Tahiti Avenue
Palm Beach
5
33
$1,000,000
-
Passed in
2/72 Third Avenue
Palm Beach
9
29
$800,000
$1,125,000
Auction
Clearance Rate: 64%
Total Bidders: 62
Total Live Bids: 92
MEET GAVIN CROFT RAY WHITE QUEENSLAND CHIEF Joining the Ray White QLD team in 2021 in his role as Chief Auctioneer, Gavin principally works in the Auction Arena for Ray Whites network of offices throughout the state. The award winning Auctioneer & trainer is known for consistently achieving a clearance rate well above the industry average.
MEET CONNOR SUMMERS CLIENT ADVISOR AT LOAN MARKET GC Buy your new home sooner. Getting on the property ladder doesn't have to be daunting. at the same time we can provide you with important information on the suburbs and properties your interested in, our Loan Market Broker Connor can help you secure the right finance for your dream home. 0416 838 673
MEET JAMES MULHOLLAND NEW BUSINESS DEVELOPMENT MANAGER Maximise your investment returns! James looks after our leasing nd new business ensuring our clients enjoy a smooth and seamless transition. His drive for success helps to ensure that each of our landlords receive the experience and commitment they deserve. 0431 307 129 james.mulholland@raywhite.com
connor,summers@loanmarket.com.au
"IF YOU WANT TO GO FAST, GO ALONE. IF YOU WANT TO GO FAR, GO TOGETHER" #BETTERTOGETHER
John Tymon
Caroline Tymon
Principal
Erin Dawe
EA to John Parkes
Accounts/Contracts
Josh McKenzie
Buyers Agent to John Parkes
Alicia Wilkins
Property Consultant
Dion Zorko
Property Consultant
Camilla Skye
EA to Team Robinson
Mekayla Quinn
Elanora Sales Support
Kelly Walker
John Parkes
Daniel Tavener Property Consultant
Stephen Hay
Emily Pye
Tugun Sales Support
Strategic Operations
Ken Jacob
Daniel Jeffries
Property Consultant
Property Consultant
Property Consultant
Courtney Tymon
Selling Principal
Laura Robinson Property Consultant
Jon Blake
Tup Curtis
Database Specialist
James Mulholland
Kellie Twidale
Sharyn Haag
Tara Di Manno
Annalise Sunderland Property Management
Property Consultant
Mick Main
Marketing & Events
New Business Development
Property Manager
Robbie Robinson
Property Consultant
Head of PM
Property Manager
Property Consultant
Jesse Richards
Property Consultant
Leasing Agent
Shane Seghers
Sarah Goodman
Property Management Assistant
Kris Klavina
Property Management