Under the hammer this week

AUCTION events are the flavour of the week across the Ray White Group nationally with both the Gold Coast, Box Hill and Canberra dominating auction volumes between now and the Australia Day public holiday.

The hammer wielding starts tonight at the Gold Coast Auction Spectacular, which kicks off at Sofitel Gold Coast Broadbeach when registrations open at 5pm.

A total of twenty-three properties from Ray White Broadbeach, Ray White Robina, Ray White Broadbeach Waters, Ray White Mermaid Beach and Ray White Labrador are scheduled for sale this evening, with two of those selling prior.

"Events like this highlight our ability to come together to create unparalleled exposure for our vendors,” Ray White Queensland chief auctioneer Mitch Peereboom said.

“The Gold Coast is bustling over the holidays. We find buyers from all over the world, and time this Auction Spectacular to capitalise on this busy period."

Still on the Gold Coast where Ray White Runaway Bay Group is also gearing up for an auction event, with their Summer Auction Spectacular commencing from 5.30pm this Friday at the Sheraton Grand Mirage Resort, Main Beach.

Ray White Runaway Bay Group general sales manager Ian Spurle said he was expecting a full house at the event, which will see more than $15 million worth of property go under the hammer.

“January on the Gold Coast provides sellers a unique opportunity as the population doubles with interstate and international visitors,” Mr Spurle said.

“We see a lot of these visitors become potential buyers in addition to our local market as they are seduced by the lifestyle and value that the Gold Coast offers. 2019 has started well, in fact we are seeing increased activity from the last quarter of 2018.”

Auctioneer Nigel Long will call the action, with a great selection of 15 northern Gold Coast properties up for grabs on the night.

“We have acreage/multi-dwelling, a four-bedroom penthouse apartment on Ephraim Island, classic large waterfront homes in Runaway Bay, and investment properties both individual and multi-dwelling,” Mr Spurle said.

Ray White Group’s weekly auction volume jumps significantly to 350 for the week beginning Monday January 28 when The Ray White Surfers Paradise Group takes more than 100 properties to auction at The Event.

“Off the back of an amazing Christmas/New Year holiday season which saw spectacular weather, amazing events and great optimism about the Gold Coast, we were pleased to receive significantly more enquiries on The Event properties than was expected,” The Ray White Surfers Paradise Group CEO Andrew Bell said.

“There was strength in our local buyers, but that was more than matched by the strong enquiry from interstate buyers who in ever-increasing numbers are wanting to benefit from the financial gain of selling their Sydney or Melbourne properties and buying on the Gold Coast and pocketing a substantial cash difference. They also recognise that the Gold Coast offers a year-round lifestyle more in tune with the lifestyle desired by those in the 50-plus age bracket.”

Mr Bell said The Event every year sets a platform for the Gold Coast property market.

“So often the uninformed judge the success of any auction event by the number of properties that sell under the hammer,” he said.

“However, that is not the measure of success or indeed a measure of the state of the market. The first measure is the volume of interest in the properties being marketed, which reflects the general interest in the real estate market. To that measure, there is no question that we have been receiving significantly higher enquiries and inspections than any Event in recent years, which bodes well for the Gold Coast property market.”

Sales of properties have already occurred ahead on Monday’s The Event at RACV Royal Pines Resort, which starts from 10am.

Mr Bell said it was a reflection of buyers who aren’t willing to run the risk of losing their preferred property, so they make offers pre-auction at figures which sellers are more than happy to accept.

“We expect strong bidding activity on the day but the greatest measure of the overall success of an auction program is the total number of sales from pre-auction, on the auction day itself and post-auction, which is best measured 30 days after the conclusion of the auction day,” Mr Bell said.

“We certainly expect to see above average results.”

Ray White Canberra is planning to auction off 34 properties at their Summer Sizzler auction event at Old Parliament House tomorrow night.

The auction order features everything from townhouses to million dollar prestige properties, with two listings selling prior.

“We’ve had well over 1000 inspections across all properties, which is well above our long-term average,” Ray White Canberra head of sales Scott Jackson said.

“The people of Canberra have traditionally thought January isn’t a good time to sell property so agents have waited until February before launching their campaigns but we take a different view. We think plenty of people need to buy a home in January and so our response has been to hold the Summer Sizzler this year and last, and there’s certainly been the buyers.”

In Melbourne on Saturday, Ray White Box Hill is taking seven properties to auction as part of their Australia Day Auction Spectacular event.

Ray White Box Hill director Jeremy Tyrrell and sales agent Steven Yuen are looking forward to the 1.30pm auction of 4/33 Albion Rd, Box Hill, which has a price guide of $390,000 to $429,000.

“Close to 100 buyers have inspected this property in three weeks,” Mr Yuen said.

“It’s priced nicely for investors and first home buyers, right in the sweet spot. The location on Albion Road is just off Station Street, near Box Hill Central. The property is also well maintained.”

Another of Ray White Box Hill’s auctions to watch this Saturday is at 22 Maude St, Box Hill North (above), which is going under the hammer also at 1.30pm with a price guide of $820,000 to $902,000.

Ray White Box Hill’s Aaron McDonald said it’s a classic weatherboard Box Hill home.

“It’s the great Australian dream,” Mr McDonald said.

“There’s a lack of volume or stock at the moment, and everybody is interested from older people to investors through to young couples.”