Over 100 properties are set to go under the hammer at the iconic Gold Coast auction day The Event.
Vendors have returned en masse this year, with numbers up 35 per cent compared to last year and interest higher than ever as demand remains high for Gold Coast property.
Ray White Surfers Paradise Group, CEO, Michael Andrews said despite stock levels being down over 30 per cent, bookings for The Event have been incredibly strong.
“That is the result of a huge drive by our team,” Mr Andrews said.
“It’s quite remarkable that we’ve actually bucked the trends.
“But it’s really showing the enormous attraction this event has for sellers.”
Mr Andrews said the team have been working throughout the holiday break to bring a wide range of properties to potential buyers on the day.
He said they currently have properties including studios and one-bedroom apartments, sky homes and penthouses, amazing residential towers with extensive facilities and views, small boutique apartment blocks, priced from $200,000 all the way up to the highest prices on the Gold Coast.
“We’re truly thrilled to be able to provide such a wonderful array of properties to the market,” he said.
Chairman of the Ray White Surfers Paradise Group Andrew Bell, who was the original founder of The Event concept, said he was thrilled to be marking the 30th anniversary of this event.
“I’ve seen this event grow year after year and it’s reached such a stature that it now has an Australian trademark,” Mr Bell said.
“It is such a wonderful opportunity for buyers.
He said the wide selection of properties is matched with an annual expo that provides a lot of auxiliary services to home buyers through an exhibition on the day of the auction.
“We’re acknowledging that at this time of year there are so many people visiting the coast who want to take the opportunity to buy real estate, from the southern areas of the coast to the northern areas, the coast and out to the hinterland,” he said.
Mr Bell said that the huge demand for local property is being driven by the influx of people to the Gold Coast.
“The fundamental problem is that our population is growing by both immigration, which this year increased to 500,000 people, and migration of people from other parts of Australia,” he said.
“This results in continuous demand for Gold Coast properties.”
He said the fact that supply cannot keep up with the surging population numbers means that prices keep on rising.
The affordability of Gold Coast property compared to major cities continues to be a strong factor in migration to the coast, Mr Bell said.
“Homebuyers’ dollar will certainly go further on the Gold Coast and that represents good value for those leaving capital cities,” he said.
He said the ease of The Event – with so many properties available on one day in one location – combined with the exciting auction format is likely to see the annual event enjoy its biggest turnout ever in 2024.
The Event is being held on January 28 at Royal Pines Resort Benowa.