INDUSTRY NEWSNEWSQLD

Ray White Surfers auction achieves 80 per cent success rate

Ray White Surfers Paradise Group kicked off the 2022 auction season in style with 80 per cent of the 77 properties selling under the hammer at the 30th annual ‘The Event’ on Sunday.

Held at the RACV Royal Pines Resort on the Gold Coast, The Event runs over several days and has long been seen as the starting gun for the auction year. Sunday’s start to 2022 did not disappoint.

“This is a day when so many dreams come true for our sellers and buyers,” Ray White Surfers Paradise Group principal and auctioneer Andrew Bell said.

The preliminary auction clearance rate at The Event on Sunday was 80 per cent of the residential and commercial properties.

“The most satisfying thing for me is that most properties are selling well over their reserves,” Mr Bell said.

“We’ve seen some strong bidding from the floor and online but it’s mostly locals in the room bidding.

“There is so much energy in the room. We had an array of properties from all over the Gold Coast in all sorts of price brackets, from beachfront to the mountain ranges.”

Preliminary sales on the day, including 24 properties which sold prior to auction, yielded more than $65 million in value as the momentum from 2021 continued in full force.

Further prestige properties will be auctioned later this week, while some auctions will take place later this month on site, and others will go to auction in February.

The top sale of the day so far went to Ray White Surfers Paradise Group agents Jackson Rameau and Michael Willems with the horse training and rehabilitation facility Fenwick Farm, at 325 Mundoolun Connect Road, Boylan selling for $5.95 million to a local buyer with 10 registered bidders.

The top residential sale so far went to Jackson Paradise, with 40-42 Karina Crescent, Broadbeach Waters, selling for $3.67 million.

Ray White Managing Director Dan White said if anyone was in any doubt as to whether or not the market would continue this year then “The Event has well and truly stamped its authority”.

“Once again the Surfers Paradise Group has led us all into the new year with a huge amount of confidence with a high degree of energy and excitement,” he said.

“I have never seen The Event auction room so full with such fast and furious bidding across all residential and commercial properties.”

Ray White Queensland CEO Jason Andrew, who successfully called auctions on the day, said The Event was always a landmark date on the group’s calendar.

“The Event is the official starting gun of the Queensland calendar,” Mr Andrew said.

“It really is a litmus test for what’s in store for the market that year. It doesn’t necessarily define what is in store for the year as the Gold Coast is its own unique market but it certainly gives us a barometer.

“Auctions went from strength to strength in 2021, more people are happy to participate at auctions both from a selling standpoint but also from a purchasing standpoint, we believe that this will only continue to deepen in 2022.”

Mr Andrew congratulated Ray White Surfers Paradise Group on another successful The Event.

“Right around the country businesses have attempted to replicate The Event and not succeeded,” he said.

“The fact The Event has had such longevity on tenure and is seen right throughout our industry as market leading is testament to Andrew Bell’s passion and leadership within the Gold Coast market.”

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