RAY White Surfers Paradise Group is gearing up for its biggest annual auction program The Event in 2019 which is set to cap off the busy Australia Day long weekend on the Gold Coast.
The Gold Coast’s leading real estate agency is holding its flagship residential auction on Monday, January 28, ahead of what is expected to be a pivotal year for the property market thanks to a looming federal election.
“We’ve taken a different approach to The Event next year for a number of reasons,” said Ray White Surfers Paradise (RWSP) CEO Andrew Bell.
“As always, sellers will still be taking advantage of the peak holiday season on Gold Coast,” he said.
“January remains our best month for tourism, and with more accommodation coming onto the market we’re expecting record numbers again next year accompanied by another strong buying season.
“We’re holding The Event on a Monday for the first time, taking advantage of the full long weekend to give prospective buyers more time to view properties ahead of the auction.”
Mr Bell said while the auction program was being finalised over the next two weeks, he was confident of delivering a magnificent array of some of the best Gold Coast properties to buyers through The Event 2019 program.
“The Australia Day long weekend will be the prime time for buyers to stake their claim on their piece of Gold Coast real estate,” Mr Bell said.
“Inquiries traditionally are up 60 per cent during January and we’re expecting next year to be no different.
“However, next year’s program will be even more important from an investor’s perspective, especially with changes to property rules expected under a potential new government.
“We know from history that elections tend to distract the market anyway, but this time around there is the added uncertainty over the future of negative gearing on established properties should Labor win the election.
“Combined with the interest we are expecting from our traditional visitors to the Coast, this provides a compelling reason for many property owners to sell in January.
“We have no doubt that investors who depend on the negative gearing rules that exist today also will be looking closely at established properties.
“We’re expecting more buyers to take advantage of the proposed grandfathering provisions for negative gearing of established properties ahead of any official changes to the regulations.”
The Event, run in conjunction with the Gold Coast Home & Living Expo, is being held at RACV Royal Pines Resort on January 28 from 10am.
The Gold Coast Home & Living Expo will feature a range of discounted products and services designed to assist with buying or selling a home.
For more information, visit theauctionevent.com.au