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Six properties sell ahead of The Event as Gold Coast market gathers steam

The Gold Coast’s flagship real estate auction, The Event, is off to a flying start with six properties finding buyers ahead of Saturday’s auction date.

Australia’s largest in-house auction program, hosted annually by Ray White Surfers Paradise Group (RWSP), is living up to its title with an initial 103 properties listed on the 2020 program.

The properties range from one-bedroom apartments to luxury mansions, as well as major investment opportunities, with many garnering solid market interest over the Gold Coast’s busy holiday period.

RWSP CEO Andrew Bell said the six sales achieved ahead of the January 25 auction highlight the underlying strength of the Gold Coast property market which has been buoyed by renewed urgency among interstate buyers.

“As a group, we’ve had a very strong start to the year with 16 sales achieved across the board in the first week of January,” said Mr Bell.

“Some of these sales have been struck well in excess of the asking price, in some cases 15 per cent above what the vendors expected.”

Mr Bell said the busy Gold Coast holiday sales period has highlighted a strengthening local market being driven in part by exceptional growth in Sydney and Melbourne prices.

CoreLogic has revealed that dwelling values rose 4 per cent nationally over the December quarter – the largest gains in more than a decade – with Sydney outstripping the broader market as values surged 6.2 per cent over the last three months of 2019.

The statistics augur well for The Event 2020 amid a general shortage of listing across the broader market.

“We’re sensing urgency among buyers from the southern states because they see value here amid significant price growth in their own markets,” said Mr Bell.

“Some are selling their homes quicker than expected and that is having a positive knock-on effect on demand for Gold Coast properties among those looking to relocate.”

Mr Bell said the evolution of the Gold Coast in recent years as a true lifestyle destination is also triggered a renewed surge in interstate migration.

“The feedback has been incredibly positive from potential buyers, especially those from interstate,” he said.

“Most are drawn by the Gold Coast’s maturity as a lifestyle city. They come up here for holidays, see how cosmopolitan we’ve become and they are making the decision to move.”

In addition to the property auction, RWSP will also be auctioning items to raise money for Australia’s Bushfire Appeal following the devastating fires which destroyed more than 2,000 homes, one billion animals and 10 million hectares of land.

Mr Bell, who will lead the charity auction himself, said The Event was the perfect platform to rally community support and generate vital funds which will support the recovery efforts.

“It’s a fantastic opportunity to help a truly worthy cause and we’ve been lucky enough to have a generous network of contacts who have been incredible in donating items for auction,” he said.

“So many people in our country are doing it tough right now so we wanted to devise a unique and impactful way to give back to those in need.”

Mr Bell said a variety of items will be auctioned intermittently throughout the day including a brand-new iPhone 11 Pro, an 11-inch iPad Pro and three nights’ accommodation at the Allure Stradbroke Resort, with the leading item being a credit of $10,000 towards selling commission made on the sale of a property.

“With a wide range of properties being auctioned, including those of great prestige, it is anticipated the public will be willing to spend, so we figured, why not allow them to donate to a great cause too,” Mr Bell said.

Among the properties listed on The Event 2020 program are:

  • B27 Rivage Royale at 2/75 Brighton Parade, an expansive 367sqm apartment with four bedrooms, six bathrooms and four-car accommodation in one of the most sought-after luxury apartment developments in Southport;
  • 6 Sea at 3531-3533 Main Beach Parade, a whole-floor luxury apartment at Main Beach with three bedrooms plus media room and uninterrupted views across the length of the Gold Coast foreshore;
  • 7309 Bayside Close, Sanctuary Cove, an elegant three-level contemporary riverfront mansion set on an expansive 1228sqm site and featuring six bedrooms, nine bathrooms/washrooms and a 10-car garage;
  • 10 Edinburgh Road, Benowa Waters, a Hamptons-inspired waterfront home with expansive water and skyline views and generous living spaces designed for entertaining.

The Event, which is held in conjunction with the Gold Coast Home & Living Expo, kicks off at 10am at the RACV Royal Pines Resort on Saturday, January 25.

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