On Sunday 28th January 2018, the Ray White Surfers Paradise Group held their annual mega-auction called The Event.
On the day, the Ray White Surfers Paradise Group cleared a huge $35.4 million worth of sales. Over 1,000 people attended the event which was held at the RACV Royal Pines Resort in Benowa, including 170 registered bidders.
Andrew Bell, the CEO of the Ray White Surfers Paradise Group said the success of the auction reflected the Gold Coast economy, which remains strong.
“The strong contingent of local buyers was the big surprise of the day” Mr Bell said.
While $35.4 million worth of deals confirmed at time of going to press was impressive, but that figure is expected to climb further in the coming days and weeks as sales are finalised.
“We’re likely to see the momentum from this auction continue into the next month or so” Mr Bell said.
There were also some cheap buys for bargain-hunters, with one buyer snapping up a unit in Southport for $132,000.
The biggest sale of the day was a property in Kingsholme marketed by Deborah Andree from Ray White Upper Coomera, which sold under the hammer for $1.4M.
The property had been in the seller’s family for 60 years, and both the seller and the buyer are happy with the result of the auction.
The annual auction event held by the Ray White Surfers Paradise Group is often used as a barometer for what lies ahead in the real estate market. If this year’s event is anything to go by then the year ahead looks like a prosperous one.
Peter Catanzariti, team leader for Ray White Upper Coomera says the event was very successful for his team.
“Not only did our team have the biggest sale on the day, but the event has provided our team with a massive platform to communicate with buyers and sellers throughout the 4209 area” Peter stated.
“Not every registered bidder bought a property under the hammer so we have a number of qualified buyers looking for homes” he said.