Ray White Coastal Living Network auction event sets new sales record

The Sunshine Coast’s largest annual auction has smashed multiple records this year, scooping up more than $45m in sales in five hours.

The Sunshine Coast’s largest annual auction broke a sales record after offering buyers more than 80 properties to choose from.

The Ray White Coastal Living Network annual auction raked in $45.67m in sales in just five hours on September 22, marking the highest sale results in the history of the event.

Ray White also recorded a 50 per cent clearance of the record-breaking 86 properties that were listed for auction.

This proved to be a massive leap from 2023’s post-auction results, which achieved $27.24m in sales and a 40 per cent clearance.

Ray White Mooloolaba and Kawana Waters director and auctioneer James Goldsworthy said it was the largest event by far and demonstrated the strength of the Sunshine Coast property market.

Ray White Mooloolaba and Kawana Waters director and auctioneer James Goldsworthy at the auction event. Photo: Ray White

Bidders at Ray White Coastal Living Network's Annual Auction. Photo: Ray White

He credited part of the auction’s success to the buyer module of their new AI-powered platform Nurture Cloud, which allows agents to match buyers with properties quickly.

Mr Goldsworthy said there was fierce competition on the day, with some winning buyers narrowly snatching up a property by $1000 or $5000 bids.

A “modest” three-bedroom Mooloolaba home had more than 10 bidders vying for the prize, with the final two bidding for more than five minutes and pushing the selling price to $1.72m.

Mr Goldsworthy noted the event showed the current property market’s strength and “depth of the buyer pool”.

Ray White recorded more than 130 buyers registering before the event and more than 200 buyers in the room on the day.

More than 2500 potential buyers attended property inspections in lead up to the Ray White Coastal Living Network Auction Event. Photo: Ray White

Bidders at Ray White Coastal Living Network's Annual Auction on September 22. Photo: Ray White

“Post-auction, we have seen another 10 properties going under contract, pushing the success rate to 60 per cent,” Mr Goldsworthy said.

The real estate agency expects the percentage will continue to rise in coming weeks.

A luxurious “Palm Springs” style home at 7 Sorensen Ave, Buderim was crowned the highest sale of the day, receiving a whopping $2.425m bid.

Sold prior to auction day, the highest sale overall was for a 1148 sq m block of flats at 12-14 Carroll Street, Nambour which sold for $2.7m.

Since its inaugural event in 2015, the Ray White Coastal Living Network’s auction has sold 524 properties totalling to more than $303m in sales.

More than 75 staff from Ray White Maroochydore, Buderim, Mooloolaba, Kawana Waters and Nambour attended to manage the event.

Originally published as Ray White Coastal Living Network auction event sets new sales record