The Australian auction season has launched on the Gold Coast with more than $23m worth of property selling under the hammer in the biggest in-room auction event in the country.
Almost 70 homes headed under the hammer at the Royal Pines Resort at Benowa on Sunday with 302 registered bidders among the crowd of 400.
“This is as big as you get in the country,” Ray White Surfers Paradise chief executive officer and The Event organiser Andrew Bell said.
The top auction sale was $4.4m for a Paradise Point trophy home at 24 Norseman Court, while the best deal of the day was an apartment sale for $245,000.
The Event had a preliminary auction clearance rate of 56 per cent, including pre-auction sales however Mr Bell said he expected this would increase to 85 or 90 per cent over the course of the next week.
“People are still trying to get their finger on the pulse of what the market is doing,” Mr Bell said. “But the key thing is there’s a lot of interest and people stayed with us to the end even though they weren’t bidding on property.”
The weekend auction event will be followed up on Tuesday with the Amir Prestige Group Summer Grand Auction event and the Lucy Cole Prestige Properties Alfresco Auction event on Saturday as the Gold Coast property market schedules auctions to capitalise on increased tourist numbers through summer.
