‘The Event’ on the Gold Coast nets more than $35m in sales

More than $35m worth of Gold Coast property was sold at a massive annual auction held by the Ray White Surfers Paradise Group.

Known as ‘The Event’, it attracted 315 registered bidders and clocked up clearance rate of 79 per cent –  double that recorded a year ago.  

Andrew Bell, CEO of the Ray White Surfers Paradise Group, deemed it as the ‘best ever’ sale in the group auction’s 29-year history, saying it is unbelievable how far the market has come in just a few months.

“Local and interstate buyers have come out in force today to reinforce the fact that the post-COVID environment is ushering in a new golden era for the Gold Coast,” Mr Bell said.

“People have accelerated their decision making when it comes to buying property – they want to be on the Gold Coast in some way, shape or form, whether as owner-occupiers or investors.

“This was clearly reflected based on the solid turnout and the robust nature of bidding and strength of sales.”

Around 90 homes went under the hammer on Sunday at the Royal Pines Resort. 

Another 16 prestige homes are set to be auctioned by the Ray White Surfers Paradise Group on Thursday. This will include a luxury waterfront four-bedroom townhouse at Runaway Bay being sold  by retail giant Gerry Harvey. 

The highest sale recorded last weekend was 44 Queen Street, Southport – a 17-bedroom resort on 939sqm – which fetched $2.7m. 

Also selling was 2 Helen Court in Broadbeach Waters ($1.202m) and 450 Guanaba Creek Rd, Guanaba ($1.675m).

The most affordable property auctioned was a fully furnished two-bedroom apartment in the Chevron Renaissance which fetched $315,000. 

Among those buying was Noel Hollingworth from Goulburn in the NSW Southern Tablelands who paid $1.2m for a three-bedroom villa on Chevron Island for his future retirement.

Noel Hollingworth, buyer of 1 ‘Chevron Riviera’, 214 Stanhill Drive, Chevron Island

The auction started at $500,000 with 25 bids traded before the property was sold. 

“COVID-19 and the restrictions had no impact on us and it has always been in our plans to move to the Gold Coast, so we’re extremely happy,” Mr Hollingworth said.

“We’ve been looking at a number of properties but this one stood out to us and the fact that it was on Chevron Island really appealed to us. We love the Gold Coast because there is plenty of action and just so much to do.”

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Samantha McLean

Samantha McLean is the Co-Founder and Managing Editor of Elite Agent and Host of the Elevate Podcast.