The 2024 auction season in Australia is off to an electrifying start, witnessing a remarkable 2775 listings hitting the auction block across the capital cities last week, as reported by CoreLogic. Adding to the momentum, Ray White Burleigh Group (RWBG) orchestrated an intriguing online auction at Currumbin Beach Vikings Surf Life Saving Club in early February, featuring 47 properties with an impressive 75% clearance rate. Departing from the traditional onsite auctions scattered across the Gold Coast, this fully digital RWBG event attracted the participation of roughly 2000 individuals who either tuned in or actively bid throughout the day, benefiting from personalized ‘one-on-one’ attention from their agents. RWBG Principal, Tiger Malan, asserts that online auctions, born out of the COVID-19 pandemic, have proven to be more than a temporary solution, emphasising their lasting impact on the real estate landscape. While acknowledging that not every property may suit online auctions, the RWBG event exemplifies the industry’s shift toward this digital frontier, signaling a promising evolution in the Australian housing market.
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