Andrew Bell’s Market Wrap: The Event 2021

Issue 02 | Thursday 28 January 2021 | The Event 2021

Hi, Andrew Bell here and coming to you from The Event 2021.

Today has been nothing short of spectacular! Despite having to navigate COVID regulations with a limit on numbers, we have had a record attendance.

The most frequent thing I have been asked by both the media and indeed people at large is, “how strong has the real estate market started in 2021 and what is driving it?”. I am certainly in a position to answer that today.

In the first three weeks of this year in the lead up to today, we recorded 6,347 buyer enquiries through multiple platforms and conducted 3,431 inspections of properties. This is an all-time record. One property received 233 inspections, but typically we had 50+ inspections through most properties, and of course here today the sales activity has been phenomenal.

Where is the buyer enquiry coming from? This is another frequently asked question. We are still compiling all the stats in this area but as we have been reporting for quite some time, interstate buyers are very active. Most properties recorded more than 25% of their inspections were from interstate parties, yet in certain property types that has been as high as 50% of all inspections. Many interstate buyers came to the Gold Coast for both a holiday and with the intention of buying a property at The Event. The volume of interstate buyers is no surprise but it is amazing that they can make up as much as 50% of those inspecting properties.

What means of marketing caught the attention of those inspecting? There were 3 prominent sources. The first is our database that has been amassed over 30-years. Hundreds of thousands of people who have bought or sold through us over all those years or inspected properties with us. Not only do those clients continue to buy through us, but they are now introducing their children to our office. The second source are digital platforms such as Realestate.com and Domain. However, many buyers are people who don’t follow digital platforms as they are not actually looking to buy, and this is why print media is still such an important tool and is the third prominent way of attracting buyers. Print these days is of course not just the newspaper but all the digital platforms attached to it, and it was interesting to know that the properties that only did digital without print received significantly less enquiries than those that did both.

Reasons for purchasing. For the locals, they are brimming with confidence about the Gold Coast and its future and about the real estate market. For interstaters, it is either to relocate entirely or to have a safe haven. A good percentage of people are aware they will not be travelling overseas for quite some time and so they want a property to either live in that provides them a great lifestyle or one they can come to for a holiday and as a safe haven given that most people expect more pandemics in the future.

Two quick last points. Tonight, we have our Prestige auction of 16 stunning Gold Coast prestige properties that are part of The Event program. Over the past 30-years, we have sold more prestige properties than any other agency on the Gold Coast and we pride ourselves of not being a ‘flash in the pan’ agency but one that delivers consistent results in this space year on year. I will be pleased to give you a report of all the strong activity in this segment on the market in my news eNewsletter.

Last point, we have literally thousands of today buyers that we have been in contact with throughout January. We have a huge pool of pent-up buyers. If you are thinking of selling, please contact us today on our hotline shown on screen now. This truly is a rare opportunity with some red hot buyers desperately looking for a property.

I will give you a further update on the huge success of The Event in my next eNewsletter, but in the meantime, I wish you all the very best and am signing off on The Event 2021.

Warm Regards,

Andrew Bell, OAM
Chief Executive Officer
The Ray White Surfers Paradise Group

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