Issue 29 | Thursday 08 February 2024 | Reflections on The Event 2024: Pioneering Success in Gold Coast Real Estate
Hello, Andrew Bell here, reflecting on an incredibly busy January. We’ve just concluded The Event 2024, marking its 30th anniversary, and what a remarkable occasion it was! Approximately a decade ago, The Australian Financial Review hailed The Event as the litmus test of the Australian property market, setting the tone for the year ahead. Others have likened it to the opening act of the real estate season.
Exclusive to our office and now trademarked, The Event stands as yet another pioneering concept birthed by our team. With three decades of experience under our belt, I can confidently assert that The Event 2024 surpassed all expectations. It shattered records across the board, boasting the second-highest number of properties listed for market. Our marketing campaign alone garnered over 530,000 online property views, resulting in more than 5,800 inquiries and 3,500 physical inspections. Auction day witnessed over 2,000 individuals passing through our auction rooms. As it stands, 93 properties have been sold through the program, raking in $97.7 million to date. While some properties didn’t sell at auction, many are being snapped up by buyers who were captivated during the marketing blitz.
The Ray White Surfers Paradise Group, encompassing our powerhouse Commercial team and various Gold Coast offices, has long been at the forefront of real estate innovation. While we bask in the glory of record sale prices, it’s crucial to recognize that the market dictates prices based on effective marketing. The success of The Event 2024 underscores the enduring strength of the Gold Coast real estate market.
The driving force behind this market phenomenon is the high demand from buyers outweighing available properties. Auctions provide a fair platform for buyers to secure properties at prices they’re willing to pay, serving as the ultimate test of market value.
Interstate buyers comprised the majority of our bidders, signaling the Gold Coast’s status as Australia’s lifestyle capital. They not only value our properties for their intrinsic worth but also for the unparalleled lifestyle opportunities they offer.
Moreover, 25% of our program featured Commercial properties, showcasing the diverse investment opportunities available on the Gold Coast.
We’ve also unveiled “Elements,” an exclusive boutique project in Budds Beach, boasting luxurious finishes and a central yet secluded location.
As we enter 2024, any doubts about the Gold Coast property market’s resilience are dispelled. While challenges may arise, the unwavering demand to reside here sustains the influx of buyers.
I’ll delve into further market insights in upcoming eNewsletters, building on the robust research we’ve gathered. I extend my gratitude to those who’ve reached out, expressing appreciation for our newsletter content. Expect even more detailed analysis as the year unfolds.
Lastly, don’t miss the opportunity to hear from the legendary Harry Triguboff at our upcoming Ray White Surfers Paradise Business Meets Sports Networking Lunch on March 22nd. Harry’s remarkable journey from immigrant to “High-Rise Harry” offers invaluable lessons on overcoming challenges. With over 600 bookings already, secure your spot now for a truly unique event!
Let’s harness that resilient Australian spirit to make 2024 truly exceptional.
Andrew Bell, OAM
The Ray White Surfers Paradise Group