Ray White The Event post-auction clearance rate over 60%

An extra $7.5 million in property has changed hands in the days following the year's largest in-house auction.

Ray White Surfers Paradise’s 25th The Event was held on January 28 where 95 properties went under the hammer.

About $19 million in sales were made on the day but that figure has now reached $26.5 million.

The clearance rate now stands at more than 60 per cent.

More properties are under conditional contract awaiting finance approvals.

Ray White Surfers Paradise Group chief executive Andrew Bell said he was happy with the results.

“There has been some negative sentiment around real estate markets of Australia recently, although the market here on the Gold Coast has spoken differently.” 

More than 2000 people attended this year’s event, with 230 of those registering to bid on the day.

“Six of the properties that were sold at The Event 2019 were to purchasers sight unseen,” he said.

“The RWSP auction videos were so impressive that buyers were prepared to buy on the day without the need for an internal inspection.  "

“These results are representing some of the best sales figures in the country at present,” he concluded.

There has been an additional $30 million in private treaty sales as a result of The Event.

Last year, about 1000 people attended, including 170 registered bidders, recording $35.4 million worth of sales on the day.  

Sales since the event included 1410/3018 Surfers Paradise Boulevard (pictured above).

Located in the Wyndham Surfers Paradise development, the one bedroom one bathroom unit sold for $314,000.

Set on 73 sqm, the apartment is situated one block from the beach.