Timed to coincide with the great southern state annual pilgrimage to the Gold Coast’s glitter strip, Ray White Surfers Paradise Group’s Benowa office will play host to between 800 and 1,000 potential bidders.
Andrew Bell (pictured), chairman of Ray White Surfers Paradise group believes the event to be the largest of its kind in Australasia.
“We’re tripling the average 40 auctions we hold monthly in January as it’s the best time to present properties to the market,” says Bell.
Something for everyone
Properties going under the hammer are situated between beachfront and hinterland acreage properties – from Calypso Bay to the North across to Tweed Heads on the NSW border – and include everything from modestly priced studio apartments to houses and big-ticket prestige homes with double-digit million-dollar price tags.
Bell expects the clearance rate to be around the 95% level.
Based on previous years’ numbers, Bell expects interstate buyers to account for 40% of sales, with the remainder comprising Qld-based buyers but notes phone/online [and some overseas] bidding is becoming increasingly common.
“While 10-15% is typically sold before the event, around 60% is cleared on the day, with the balance taking up to two weeks after the event to finally sell,” Bell advised this masthead.
“It’s to our benefit to host this event while the Gold Coast is awash with NSW and Victorian number plates, and our inspection numbers have been strong which suggests interest is still there.”
Current market activity has more to with buyers simply wanting to find somewhere to live than FOMO buying per se and the housing crisis that we hear about shows no signs of easing.
Affordable yet undersupplied
Admittedly, high interest rates will restrict how much buyers can borrow this year.
But Bell reminds buyers and sellers that heightened interstate and overseas migration to the Gold Coast coincides with an unprecedented undersupply of stock, with the Ray White Surfers Paradise Group experiencing a 37% drop in all listings year-on-year.
Underscoring the significance of this annual event for sellers, adds Bell, is a 35% uptick in bookings from the same time last year.
“Current market activity has more to with buyers simply wanting to find somewhere to live than FOMO buying per se and the housing crisis that we hear about shows no signs of easing,” says Bell.
“A high percentage of people moving from interstate are baby boomers who are downsizing, and this is driving the development of high-end apartments which remain affordable relative to capital city properties, especially in Sydney and Melbourne.”
10 Feature Properties for the event
1-3 Howard Street, Runaway Bay
One of the largest land holdings along the beachfront of the Broadwater at 1570m2. Extremely rare 76 metre white, sandy beachfront. Northeast facing direct Broadwater. First time on the market. Prized property boasts endless possibilities.
“Surfers Del Ray” 7/37 Peninsular Drive, Surfers Paradise
Entry point garden apartment which is an ideal first home buyer, investor or affordable housing opportunity. 4-minute walk to Surfers Paradise beach. Apartment building situated on Nerang River. A two bedroom that ticks all the boxes.
11 Stuart Road, Guanaba
20 plus acres on Coomera River in the highly sought after Guanaba. 4-bedroom sandstone residence plus a separate granny flat. Irrigated, fully fenced horse paddocks, undercover shelters and stables plus a 220,000 litres of water tank storage. Ideal sized acreage in a leading market.
12 Cameron Court, Ashmore
Huge 2,235m2 allotment with recently rebuilt home. Wonderful outdoor entertaining with resort style swimming pool, a championship sized tennis court, covered outdoor fireplace and spacious grassed areas for children. One of Ashmore’s best kept secrets. Outstanding location, street and home.
“Bougainvillea” 102/3544 Marine Parade, Main Beach
Across the road from the beach and a short stroll to Tedder Avenue this is an entry valued apartment in a boutique building in one the leading suburbs on the Gold Coast. An apartment designed to impress with a generous floor plan.
“Contessa” 311/1 Serisier Avenue, Main Beach
Outstanding half floor sub penthouse on market for the first time in 21 years. 306sqm of open plan living. 4 bedrooms, 3 bathrooms and panoramic views that are stunning, taking in the ocean, hinterland, and city skyline. Some of the city’s best facilities are located on water frontage.
“M3565” 2/3565 Main Beach Parade, Main Beach
Absolute beachfront entire floor apartment. The newest constructed building to the most northern beachfront position on the entire Gold Coast. Elegant coastal living space with 4 bedrooms, study and 4 bathrooms. Two side by side security car parks plus lock up storage. More than just an apartment, it is an unparalleled lifestyle opportunity.
6044 Lucerne Circuit, Hope Island
Hard to get into Hope Island area under $1 million but this 3-bedroom, 2 bathrooms plus 2 car buggy accommodation behind 24 hour gated security and with great facilities is a fabulous opportunity to get into the Hope Island resort precinct.
31206/5 Harbourside Court, Biggera Waters
One of the few mediums rise new apartment buildings in the Biggera Waters area right opposite Harbour Town Shopping Centre. 12 floor corner apartments with breathtaking Surfers skylines and hinterland views. Biggera Waters has become a highly sought after area but there is still plenty of room for price growth. A terrific opportunity at one of the lower entry prices to Biggera Waters.
10 Camberwell Circuit, Robina
Robina has matured into a highly sought-after suburb. With some elevation and a northerly aspect. This is a beautifully presented family home with 4 bedrooms plus study and lots and lots of living space. Ideal family entertainment home.
Image: Properties at Calypso Bay will feature within Ray White’s annual auction event 28 January.