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Andrew Bell’s Market Wrap: The Event 2023 Property Selection

By Rebecca Coleman

Issue 1 | Thursday 12 January 2023 | The Event 2023 Property Selection

Hi, Andrew Bell here with you for the first time in 2023, and wishing you a very, very happy new year.

What a Christmas and New Year period we have had here on the Gold Coast. No vacancy signs are up everywhere, and the roads certainly tell us that we have huge volumes of visitors to the Gold Coast. We have been blessed with beautiful weather for everyone to enjoy their summer vacations, and sadly like so many parts of Australia, we have had our share of tragedies with car accidents, a helicopter collision, and a drowning. It has been very uniting for our community as we get behind those who have been affected by these tragedies. Strangely enough, it was also one of our quieter new year’s as so many people chose to stay at home and just enjoy friends and family in the comfort of their homes. We have also seen huge numbers of people out looking at the amazing collection of properties that we have as part of The Event 2023. 

Quite remarkable that if we think in an environment where listings around the country are on average 37% lower than the same time last year, and here on the Gold Coast in a suburb like Surfers Paradise, listings are around 50% lower than the same time last year. We have been able to gather our usual volume of properties to be part of The Event 2023. This is the largest single auction promotion in Australasia every year and is the brainchild of the Ray White Surfers Paradise Group. It is a fantastic opportunity for people to see a very wide cross-section of properties and there is always something for every buyer.

At the end of this eNews, there is a link to click through to view the various properties that are part of The Event 2023 promotion. I strongly suggest you track down our open homes that are detailed with each listing and get out this weekend and have a look at those properties. 

Whilst undoubtedly this year we will see some ramifications from the higher interest rates we also know that those higher interest rates are with us for only a medium term and that we certainly would imagine that by this time next year, those rates will be easing. This unique opportunity for buyers to have a slightly stronger negotiating position will only be with us for a brief period of time and should be capitalised on for buyers. What you will see during the course of his year is that we continue to have a greater demand for real estate than there is the supply of properties, and this will continue to give a solid floor under the market whilst also allowing for a more balanced position between buyers and sellers. So, have a good look at the listed properties and get out and see those that are of interest to you, and claim your stake whilst there is a degree of selection available.

With my next market update, I will certainly start to dig deeper into various aspects of the real estate market as there is every likelihood that 2023 will finish with the Gold Coast being named the best market in Australasia. There are just so many amazing fundamentals that we will discuss as we go through this year.

I look forward to keeping you up to date with the information that you don’t usually receive, and I will be very shortly having an interview with Australia’s leading Economist in the field of real estate. Stay tuned for that interview in a matter of weeks. 

I extend to you the invitation to join us at The Event on Sunday 22nd January from 10am at Royal Pines Resort in Benowa. The auction runs in conjunction with The Gold Coast Home & Living Expo.

Warm Regards,

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

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