The countdown to Australia’s largest in-house residential auction, The Event, has begun amid a whirlwind of activity on the Gold Coast driven by a unique market dynamic emerging among local and interstate lifestyle buyers.
Ray White Surfers Paradise (RWSP) CEO Andrew Bell says The Event 2021, to be held in January, is being shaped by conditions never before witnessed in the market.
“The coronavirus pandemic has triggered a big shift in priorities for people everywhere and this has set the scene for unprecedented demand for property in lifestyle markets such as the Gold Coast,” said Mr Bell.
“Understandably, COVID-19 has brought about changes to the way we work, our investment strategies, our focus on health and, of course, where we choose to live. The remarkable feature of this trend here on the Gold Coast is that it is not only being driven by interstate buyers, but by locals as well.
“The desire for lifestyle properties has never been higher and we’re seeing a wave of relocation activity occurring simultaneously.”
The renewed focus on lifestyle properties has been the most notable trend this year, according to property sales recorded by RWSP, the Gold Coast’s largest real estate group.
“While interstate sales traditionally are driven by seachangers, there’s an even greater sense of urgency at the moment as many seek to permanently relocate to the Coast,” said Mr Bell.
RWSP is taking these conditions into account as it prepares for The Event, with the program still to be finalised.
As the largest national network within Australia, RWSP has witnessed a great spike in referrals to the company with demand from buyers evident right across the country.
“We’re working closely with our interstate counterparts to help buyers as they sell their properties nationwide and look to purchase here,” said Mr Bell.
RWSP has geared up in a positive way for the higher levels of interest from these interstate buyers with operations over the last six months using technology in ways no one has imagined before.
Various electronic means have made the demand for purchasing sight unseen common in the market with easier access for all buyers now than ever before.
Options including phone bidding will still be available for prospective buyers who can’t make it the Gold Coast even as borders are re-opening.
The Event is a major feature of the Gold Coast’s busy holiday period which is expecting a record domestic holiday season as overseas travel remains out of reach. The Gold Coast traditionally hosts close to one million visitors annually in January.
“The Event 2021 is shaping up as the most exciting in its 29-year history,” said Mr Bell.
“The circumstances this year are quite unique. There’s no other way to describe it but everything has worked more positively for the Gold Coast market than any other market in Australia and the results are demonstrated by the tremendous amount of sales that are happening at present.
“With the sales activity and the level of inquiries we are currently experiencing, coupled with the benefits of low interest rates and an easing in lending criteria, we are confident that conditions in the local market are primed to support record high demand.
“As the country’s largest in-house auction program, and our flagship Gold Coast promotion for the year, we’re looking forward to experiencing some of the best results in years from The Event in 2021.”
The Event is being held in conjunction with the Gold Coast Home & Living Expo at the Royal Pines Resort from 10am on Sunday, January 24.
The Event 2021 will bring a wide range of properties to the market.
Prospective sellers interested in registering a property can visit https://theauctionevent.com.au/ or call 1800 198 009.
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