Domain Prestige - January 12, 2022

12 JANUARY / 2022

GOLD COAST RAY WHITE SURFERS PARADISE GROUP

SUMMER SELLING Bid on the be s t of the Goldie

GOLD COAST

GLENN HUNT

The place to be After a pandemic-fuelled boom, the Gold Coast has emerged as a destination that’s more than a holiday mecca. B y SAR AH WE B B

Benowa 14-18 Carcoola Street 4

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Expressions of interest

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Andrew Bell, chief executive of Ray White Surfers Paradise Group

“The Gold Coast market is now attractive to interstate buyers because it is steady and no longer has the peaks and troughs it was once known for.”

ollowing one of the most remarkable years in Gold Coast real estate history, buyers from across the nation are now massing for what could be one of the best property auction events in the city’s history.

Named The Event, and renowned for serving up a smorgasbord of homes for auction over two days, the annual affair will be held on January 23 and January 28 (for prestige abodes) at RACV Royal Pines, Benowa.

It will more than just capitalise on the growing appetite for property across the coastal city – it will encapsulate the unique 12-month timeline that’s fostered a coming of age.

It was a year that saw dozens of home price records shattered, unprecedented interstate migration and a tsunami-sized shift towards lifestyle homes that led to property prices climbing by up to 47 per cent in key suburbs and holiday destinations to metamorphose into highly liveable hubs.

“This is the summer of all summers [for real estate] … and the Gold Coast is the place to be,” says Andrew Bell, chief executive of Ray White Surfers Paradise Group, which hosts The Event.

“It’s the number one sought-after destination in Australia, which is transforming the city and making us a beachside location that has become a very mature city.

“It’s a city that offers so much more than lifestyle now with great job opportunities … and with Brisbane in the build-up to the 2032 Olympic Games that puts a degree of confidence in the market, and that is a driving factor.”

While the future is indeed looking bright for the Gold Coast, the past 12 months have seen

Agent: Ray White Surfers Paradise Group,

the city thrive off a pandemic-fuelled boom that resulted in price hikes of up to $500,000 in some suburbs, according to the Domain House Price Report for September.

Beloved pockets including Mermaid Waters, Miami, Burleigh and Mermaid Beach posted jaw-dropping quarterly and annual house and unit price rises, with the latter becoming the Gold Coast’s first suburb with a $2 million median house price following a 32.4 per cent jump over 12 months to $2.075 million.

Add that to Southport and Surfers Paradise, which both earned top spots in the PropTrack Overseas Search Data Report – which looks at online traffic numbers – and it’s easy to see why more property dollars than ever are being poured into the region.

It’s also easy to see why this year’s The Event will be the one to watch.

“We’re still an affordable city, and although the gap between Sydney and Melbourne is closing, what you get here is a different type of housing with bigger blocks of land and a lifestyle,” Bell says.

It’s an irresistible lifestyle that’s sparked rising rates of interstate migration that’s snowballed to lure savvy property punters into Gold Coast real estate at higher rates than ever, he says, with the rich array of homes being garnered for The Event offering a rare opportunity.

While final numbers are yet to be confirmed for both auctions, last year The Event saw a 93 per cent auction success rate, with 109 properties sold.

Andrew Bell 0412 243 197 Tucked away on a peaceful, tree-lined street in the Gold Coast’s inner city, this c1965 family home sits on the highest point of a 4822-squaremetre parcel of land filled with established deciduous trees and a beautifully landscaped garden. Enjoying expansive views of the city, coastline and hinterland, the home provides a private and tranquil escape from the hustle and bustle while still being close to local amenities and attractions like the botanical gardens, hospitals, schools and a TAFE campus. Finishes include West Australian jarrah timber, Spanish tiling, a plunge pool and waterfall. This home would be ideally suited to a family in search of a luxurious lifestyle or investors looking for a picturesque opportunity to holiday-let.

theauctionevent.com.au

G OL D COA ST

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