Not all units on the Gold Coast are real estate gold, with this sale not living up to the property boom hype. Follow all the auction action in our LIVE BLOG
Queensland's auction season kicks off properly this weekend with hundreds of homes heading under the hammer, led by a massive Ray White auction event on the Gold Coast.
FOLLOW THE AUCTION BLOG BELOW
We'll bring you live auction results all weekend from across Greater Brisbane and the Gold Coast including the sale of this five-bedroom home in Cannon Hill that belongs to former Wallabies star Saia Fainga'a.
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It was fast-paced action with mixed results at The Event on the Gold Coast.
The clearance rate was around the 90 per cent mark with a number of properties selling, but after auction at the negotiating table.
The prized result was almost $6m for an equine training and rehab centre.
The auction signals the start of the selling season again with southeast Queensland's property market expected to go into overdrive.
Thanks for dropping in and we will be back next Saturday with more auction action.
The top floor of a 1970s unit block with its own rooftop terrace has sold for $535,000 in one of the more drawn out auctions of the day.
Bidding started at $400,000 with phone bidders also chiming in on the action.
The two-bedroom, two-bathroom unit at 501/3 Oak Ave, Surfers Paradise last sold for $335,000 in 2003, according to CoreLogic.
An entry-level duplex, with two bedrooms and a decent sized yard, at Labrador has sold for $510,000.
The property at 1/233 Central St, Labrador last changed hands for $93,000, according to CoreLogic, although it was sold to a relative of the previous owner.
A two-bedroom apartment on level 26 of the prestigious Q1 complex has failed to reach the reserve.
Bidding for the 148sq m unit fell well short of the mark with auctioneer Jason Andrew refusing an additional $1,000 bid after saying it would not sell for that amount.
Negotiations were underway with the highest bidder.
The unit last sold in 2007 for $700,000.
The biggest sale for the day has been a pre-racehorse training and rehabilitation facility, Fenwick Farm, in the Scenic Rim.
'Situated at 325 Mundoolan Connection Road, Boyland, the property is a freehold equine complex in the picturesque Canungra Valley on 33.24 hectares.
Bidding started at $2m and stalled at $5.8m before being declared on the market at $5.95m which was also the selling price.
The property last changed hands, according to CoreLogic, in 2019 for $3.5m.
A rundown waterside property has sold for an eye-popping $3.67m
Situated at 40-42 Karina Crescent, Broadbeach Waters, there are two four-bedroom houses on the 1500sq m block.
There is also 23.4m of water frontage.
Bidding started at $2.3m but zoomed into the $3m range.
The houses were declared on the market at $3.6m
The owners of a five-bedroom house at Parkwood have made about $500,000 on their family home.
The tri-level family home at 52 Peter Thompson Drive has stunning views over Parkwood Golf Course.
It last changed hands in 2009 for $615,000.
Bidding started at $800,000 with the hammer coming down at $1.150m.
A one-bedroom unit in an apartment block built in 1979 has been a good little money-spinner for the vendors.
Bidding for the apartment at 6/16 Markwell St, Surfers Paradise, at a low-ball $200,000.
There were a number of phone bidders trying to secure the property which was declared on the market at $375,000.
It sold for $377,000.
The 93sq m apartment had previously sold for $215,000 in 2017.
A two-bedroom, two-bath apartment within 'Acapulco' high rise resort could earn its owners a nice little windfall.
The vendors paid $510,000 in 2010, according to CoreLogic, for the apartment opposite Northcliff Surf Club.
The auction was placed 'on hold' at $741,000.
We'll endeavour to update this later in the day, should the property sell.
UPDATE: Negotiations continue but no movement on price announced.
Not returning to the floor with all talks behind closed doors.
A four-bedroom house in the Gold Coast suburb of Labrador has been one of the best performers at The Event so far.
Bidding for the home at 17 The Glade, on a 541sq m block, started at $500,000.
There were quite a number of paddles raised on the floor with Ray White auctioneer calling 'going once, going twice' a few times before there was another bid.
The hammer came down at $775,000, basically, double its sale price in 2012.
According to CoreLogic, the property sold for $386,000 in June 2012.
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