Prime time for Event as property planets align

Upwards of 120 Gold Coast properties, from investor apartments to multi-million dollar mansions will go to auction next week as part of Australia’s largest auction showcase, The Event.It comes amid the best real estate market conditions in several years on the Gold Coast and is timed to coincide with the city’s bumper tourist season.Held over two days each January by the Ray White Surfers Paradise Group, The Event is now in its 21st consecutive year and is seen as a litmus test for the property market in the year ahead.RWSP Group CEO Andrew Bell said burgeoning activity and price growth in the southern capital markets and the rise of the Asian investor in 2013 both augured well for the upcoming auctions.“The response from both vendors and prospective buyers to date has been very encouraging,” he said.“There has been a lot of interest from interstate investors who have ultimately been lured by comparatively excellent value on offer on the Gold Coast.“Local buyers realise this shift in sentiment as well and after some years on the sidelines they are confident of making their next property move.“It sets an exciting scene for The Event and reflects the fact the market is now at a point where buyers and sellers alike can benefit.”The Event 2014 will involve residential, prestige and commercial properties in addition to a collection of luxury vessels listed with the group’s Ray White Marine division.A number of blue-chip addresses are lined up to go under the hammer, including the Gold Coast’s northernmost beachside penthouse in the Pintari building at Main Beach, a luxury Sanctuary Cove home set on close to half an acre of land at 6266 Broken Hills Drive and a penthouse with private pool in the boutique Jade building at 35 Northcliffe Terrace, Surfers Paradise.An overseas vendor is selling two neighbouring properties 61 and 63 Monaco Street, Broadbeach Waters, while one of Sanctuary Cove’s most iconic residences, a tri-level riverfront mansion at 7309 Bayside Close, will also go under the hammer.RWSP Group was responsible for a number of the Coast’s major prestige sales in 2013, including the two last remaining penthouses in the Hilton towers which transacted for around $4 million each to Asian buyers, businessman David Baird’s property at 103 Commodore Drive, Paradise Waters which sold for $3.75 million and a beachfront home at 239 Hedges Avenue which fetched $5 million under the hammer.At The Event 2013, RWSP Group hammered down on close to $50 million in Gold Coast property ahead of what shaped up to be one of the most active years in real estate in the city for some years.More than a billion dollars in sales has been achieved from The Event since the concept was pioneered by Andrew and Greg Bell in 1993.The Event 2014 will start at 11am on January 27, with residential and marine auctions and the presentation of Andrew Bell’s annual property report at the Gold Coast Turf Club.The prestige auction will take place at 6pm on January 30 at Palazzo Versace.