Auction

PHOTO: FILE

Australia’s Biggest Auction Event on the Gold Coast Achieves Stunning $79.4M in Sales

A record-breaking real estate auction event has cemented its place as Australia’s biggest, with an 82.6% clearance rate and over $79.4 million in total sales. Hosted by Ray White Surfers Paradise, “The Event” saw over 100 diverse properties, from luxurious mega-mansions to fixer-uppers and lucrative industrial lots, go under the hammer at the Royal Pines Resort on the Gold Coast.

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Early Success: $15M Sold in the First Hour

Within the first hour, properties worth more than $15 million were snapped up, setting a strong tone for the day. High-profile buyers, sellers, agents, and developers crowded the venue as bids flew at lightning speed. Auctioneers Andrew Bell and Jason Andrew delivered high-energy performances, with the iconic yellow gavel dropping again and again amidst an atmosphere thick with excitement and anticipation.

Standout Sales at “The Event”

The auction opened with a commercial gem in Molendinar, a 4,765 sqm industrial lot at 15 Anisar Court. The property, which last sold for $24,500 in 1973, fetched $4.65 million after an intense 25-bid contest. It was purchased by a neighboring property owner who plans to expand their footprint in the sought-after industrial precinct.

Another headline sale was Cherry Tree Downs, a sprawling 24,250 sqm lifestyle acreage at 277 Beaudesert Nerang Road, Nerang. This dream property, complete with a renovated four-bedroom homestead, spacious garage, and a high-clearance shed with a recreational space, sold for $4.75 million—$750,000 above reserve. The property’s Development Approval (DA) for a two-lot subdivision added to its appeal, drawing 24 bids from both in-room and interstate buyers.

Investment Opportunities Shine

A pair of three-bedroom, two-bathroom duplexes at 1 and 2/14 Custodian Crescent in Ormeau sold for $1.35 million. This Sydney seller’s investment property highlighted the day’s diversity, appealing to buyers looking for solid long-term returns.

A Testament to Gold Coast’s Booming Real Estate Market

Ray White Surfers Paradise CEO Andrew Bell hailed the event as a snapshot of the Gold Coast’s thriving property market, which continues to attract local, interstate, and international buyers.

“There’s no market in Australia that offers a more solid foundation for the years ahead,” Bell said. “The Gold Coast remains a limited space. If you’ve ever considered entering this market, now is the time, as demand will only grow.”

A Diverse Auction Offering for All Budgets

From industrial parcels to lifestyle acreage and residential investments, “The Event” offered a mix of properties catering to a wide range of budgets and preferences. With a total of $79.4 million in sales and the majority of properties reaching or exceeding reserve prices, the auction proved the resilience and high demand within the Australian property market.

Why Buyers Are Flocking to the Gold Coast

The Gold Coast continues to lead the way in Australia’s property market, thanks to its combination of lifestyle appeal, investment opportunities, and limited land supply. Events like this underscore the strong buyer interest and potential for continued price growth in the region.

Final Figures: A Massive Success

By the end of the auction, with over two-thirds of the properties sold, the event achieved:

  • 82.6% clearance rate
  • $79,440,000 in total sales
  • Properties ranging from industrial lots and lifestyle estates to residential investments

This extraordinary success highlights the strength and dynamism of Australia’s real estate market, making it clear why the Gold Coast remains a hotspot for buyers and investors alike.

SOURCE: REALESTATE.COM.AU