Excitement Builds for Gold Coast Mega Auction
For 3 days, beginning on January 27, more than 100 luxury Gold Coast homes will be offered for sale at heavily discounted prices. The properties available range from sprawling mansions to one bedroom units and even industrial sites.
Those with home loan arrangements ready to go can potentially secure a great bargain. The Gold Coast has been one of the hardest hit areas for real estate – many homes have remained on the market for months, some even years, and a number of these have sold for less than their original asking price.
At the annual auction, buyers are predicted to secure properties at excellent value. CEO of Ray White Surfers Paradise, Andrew Bell, said: “There are a mixture of properties for sale and different motivations among sellers… There are properties on some parts of the Gold Coast where prices are 50% below their peak in 2007, generally it’s about 20 to 30% less.”
More than $35 million is estimated to be generated through this year’s auction.