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Well over 100 residential and commercial properties will go under the hammer at the end of January.
On the 28th of January, Gold Coast buyers will wake up from their long weekend stupor and head to Benowa for Ray White Surfers Paradise Group’s 30th annual auction event.
According to Ray White, over 100 properties have already been listed to take part in the event, and bookings are still coming in.
Michael Andrews, CEO of Ray White Surfers Paradise Group, said that the event’s continued popularity is bucking recent trends.
“In a real estate market where stock levels are down well over 30 per cent, we’re up some 35 per cent on bookings from the same time last year,” said Mr Andrews.
“It’s really showing the enormous attraction this event has for sellers,” he said.
A diverse array of properties are set to go under the hammer, including studio apartments, high-rise residential towers, pocket-sized boutique apartment blocks and commercial properties. Prices start at $200,000 and continue well into millions.
According to Andrew Bell, chairman of Ray White Surfers Paradise Group and original founder of the event, the demand for Gold Coast properties has been largely fuelled by interstate and overseas migration.
“The housing crisis that we hear about shows no signs of easing,” said Mr Bell. “Population is growing by immigration, which this year increased to 500,000 people, and migration of people from other parts of Australia.”
“This results in continuous demand for Gold Coast properties,” he said.
Mr Bell revealed that many buyers at the event will be visitors from interstate, sharing: “At this time of year there are so many people visiting the coast who want to take the opportunity to buy real estate.”
The relative affordability of Gold Coast property compared to major capital cities is one key reason why migration trends remain strong, according to Mr Bell.
With home buyers getting more bang for their buck on the Gold Coast, the chairman noted that buyers are seeking out real estate “from the southern areas of the coast to the northern areas of the coast, and out to the hinterland”.
It has been an intense summer for the Ray White Surfers Paradise team, who has been preparing for the event for months.
“It’s all action stations from our admin to our marketing team,” said Mr Andrews. “We’re truly thrilled to be able to provide such a wonderful array of properties to the market.”
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