Gold Coast offerings go under the auction hammer at Ray White's The Event

Gold Coast offerings go under the auction hammer at Ray White's The Event
Gold Coast offerings go under the auction hammer at Ray White's The Event

Investors snapped up 20 Gold Coast auction offerings ahead of Ray White's scheduled one-day Gold Coast sale named The Event, held on Sunday. 

The Event was scheduled to auction 115 properties in one day. 

Listings were up from 98 last year. Auction organisers confirmed 300 plus registered bidders for the event.

Attendees noted there were signs of caution among buyers with around 39 out of the initial 75 properties auctioned finding buyers.

Final sales figures were still being tallied late Sunday, with preliminary estimates showing a clearance rate of around 51 per cent.

The 20 pre-auction sales showed investors were full of confidence about the region, Ray White Surfers Paradise chief executive Andrew Bell said.

Sales included a five-bedroom house at 22 Yacht Street in Southport for $1.56 million. Another was a three-bedroom townhouse at 5212 Marine Drive West in Sanctuary Cove sold for $800,000. 

"It's slightly more [presales] than last year," Andrew Bell told The Australian Financial Review.

Sales under the hammer included a two-bedroom apartment in a late 1980s apartment building at 25/3510 Main Beach Parade, Main Beach. It sold for $1.3 million, which was less than the $1,415,000 it fetched in 2007.

A penthouse in the Paloma building at 11/93 Albatross Avenue, Mermaid Beach, sold for $1.6 million.

A three-bedroom apartment at 274/1 Serisier Avenue, Main Beach sold for $1.1 million, below the $1,510,000 it sold for in pre-global financial crisis 2007. 

Unlike prior years, the weekend auction only had a few prestige offerings, which was an initiative of Mr Bell.

Last year's top sale was a boat from their marine sales division.

However a four-bedroom home at 76 Admiralty Drive, Paradise Waters sold for $3.5 million.  

Today’s sale of number 76, which was featured on the cover of the Gold Coast Bulletin’s real estate magazine, will see its Brunei-based owners farewell their holiday home of 17 years.

Set on a 792sq m, the residence features Versace-esque drapes, chandeliers and gold finishes throughout.

RWSP selling agent Jackson Paradise said the seller works in the hotel industry in Brunei but his children live and study in Brisbane.

There was also a vacant 835-square-metre block of Paradise Waters riverfront land sold for $2.85 million. 

Among the cheapest was a one-bedroom apartment at 15/3355 Surfers Paradise Blvd, Surfer Paradise, that sold for $218,000.

The $295 a week rental last sold at $320,000 in 2010.

The villa on The Parkway, Sanctuary Cove (pictured top above) remains for sale. It last traded in 2007 at $1.95 million. 

Tags: 
Gold Coast Residential Sales

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