Something for everyone at Ray White’s record auction event

UNPRECEDENTED interest from interstate buyers and ever-increasing local confidence has led to a record number of listings in this year’s The Event property auction.

Luxury penthouses and prestige homes will join beach shacks and humble abodes in a line-up of 143 properties that are set to go under the hammer in what has become the largest auction in the southern hemisphere.

Andrew Bell, auctioneer and CEO of Ray White Surfers Paradise, the group behind The

Event, said the interest and demand for Gold Coast properties at present was unprecedented.

“In the two weeks leading up to Christmas we were getting an incredible amount of contact from Ray White offices around Australia referring clients wanting to buy on the Gold Coast.

“We have also had unprecedented levels of inquiry from buyers coming here on holidays over the December/January period, who want to view properties for sale during their stay.

“The Event is ensuring that we match this buyer demand, with a selection of diverse and quality properties.”

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January is the most prolific month for Gold Coast real estate sales, with the average number of people searching for property in QLD increasing by more than 300,000.

The Gold Coast is also outperforming key capital city markets and most regional areas with median property values increasing by up to 27 per cent over the past 12 months, according to REA Group.

Mr Bell said despite very low stock levels throughout 2021, there had been a recent spike in sellers keen to see their homes go under the hammer.

“We wondered if we would come up short of properties for this year’s Event, but quite the opposite has transpired.

“A lot more sellers understood that the opening of the border presented a real opportunity for them. They understood the significance of January being a holiday season, and were drawn to the fact that The Event has become an iconic way to sell on the Gold Coast.”

Diversity is key when selecting properties for The Event, according to Mr Bell, who said they tried to have listings that covered all sectors of the property market, from prestige homes, to general housing, to apartments, townhouses and villas.

“We are also looking at geographical diversity. We have properties from Tugun on the southern beachfront, up to Sanctuary Cove and Hope Island in the north, out to Helensvale and all the way to the mountain range,” he said.

“And of course, we are looking for diversity in price range.”

Mr Bell said he was confident that anyone wanting to buy on the Gold Coast would find something to suit their needs.

“The sellers we have registered with the Event are not people who are putting their house on the market to see what happens. These are people who are committed to selling,” he said.

Mr Bell said that throughout December, when Ray White Gold Coast had a record number of auctions, local buyers proved determined not to be outdone by interstate competition.

He said for some time locals were being pipped at the post by interstate buyers who were prepared to pay higher prices.

“It appears now that local buyers have come to terms with the market and understand that the city has transformed, and the prices are here to stay, so they have more confidence in paying these higher prices.”

The Event is being held on Sunday, January 23 at the RACV Royal Pines, Benowa from 6pm and will be followed by a prestige offering on Friday, January 28 at 6pm at the Sheraton Royal Mirage.

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