Monday, 25 May, 2020

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Gold Coast properties taking less time to sell thanks to buyer confidence

A spate of speedy sales shows there’s a positive outlook for median days on market figures for the Gold Coast.

SALES on the Gold Coast seem to be speeding up as buyer confidence accelerates following a tumultuous start to the year.

Median days on market figures blew out across the city in the lead up to the federal election and banking royal commission, but a spate of quick sales is set to bring that number down again.

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54 Moana Park Ave, Broadbeach Waters, was snapped up after just 26 days on the market.

Ray White Broadbeach duo Sam Guo and Julia Kuo recently sold a six-bedroom Broadbeach Waters mansion just 26 days after it was listed for sale. The grand abode at 54 Moana Park Ave was scheduled to head under the hammer but a local buyer snapped it up for $2.6 million before auction.

Ms Kuo said the large family who secured the keys were one of three buyers who made an offer prior to auction.

“The buyers liked it because it was a point position and all the bedrooms can see the water and it also has the extra bonus of the six acres of park opposite the house,” she said.

The Broadbeach Waters house sold for $2.6 million.

Latest CoreLogic figures show Broadbeach Waters’ median days on market for houses is 68 while it stands at 78 days for units.

Meanwhile, the median for the Gold Coast as a whole was 46 days for houses and 56 days for units.

A local buyer secured the keys.

Ms Kuo was positive buyer sentiment, particularly at the top end of the market, could see the median days on market figures drop over the next few months.

The pair have notched two other speedy sales recently with both properties changing hand in less than 28 days.

A large two-storey home at 14 Amalfi Drive on the Isle of Capri was snapped up by a local buyer before auction for $1.93 million.

A four-bedroom waterfront house at 7 Daimler Drive, Bundall, also sold prior to heading under the hammer in a $1.405 million deal.

It took just three days to sell 18 Maryland Ave, Carrara.

The lightning quick sale of a Carrara mansion proved it was becoming a trend across the Coast.

The rare acreage property in the heart of the city at 18 Maryland Ave changed hands for a whopping $6.3 million just days after hitting the market.

10 Sir Bruce Small Blvd, Benowa Waters, sold within 24 hours of hitting the market.

However, the impressive sale still wasn’t as fast as a deal made for a Benowa Waters house.

The four-bedroom property at 10 Sir Bruce Small Blvd was snapped up by a Melbourne buyer who had never seen the property less than 24 hours after it hit the market. It sold for $1.12 million last month.

It was a record price for a single dry block in the suburb and sold through NGU director Edward Smyth and Karen Stewart. Mr Smyth said post-election the time spent on market had significantly dropped and the sale was a positive reflection of how the market was travelling.

“On an office level, our days on market has dropped to around 40 days, whereas pre-election it was more between 75-80 days,” he said.