Spring into Success: Unlocking the Power of Auctions on the Gold Coast

Hi, Andrew Bell here. As we rapidly move towards our busy spring season, it’s clear that while winter can be quieter, spring consistently marks the longest and strongest period in the real estate market here on the Gold Coast.

Australia ranks among the highest in global property value growth over the past four years. A shortage of properties for sale and increased buyer demand have been the primary causes, but the method of sale in various countries has also contributed to the prices that sellers achieve.

In many countries, real estate brokers set prices based on recent sales of similar properties, then reach out to their buyer database and list the property digitally. The first buyer willing to pay the asking price typically secures the property, limiting the opportunity for multiple buyers to compete freely.

In contrast, Australia has long favored a different approach to selling. We believe every property has unique merits—be it location, style, size, or condition—that appeal to various buyers. We emphasize robust marketing campaigns to reach every potential buyer, then let market forces determine the ultimate sale price through auctions. Auctions have existed for over 2,000 years and are legally recognized as a method that, when well-marketed, results in competitive bidding and true market prices.

This method allows sellers to achieve premium prices, which has been evident over the past four years. For buyers, it offers an open marketplace where everyone has an equal opportunity to bid, preventing off-market sales and giving buyers time to secure financing and complete necessary inspections.

Ray White recently celebrated 122 years since its founding by Ray White, a strong proponent of auctions. Ray White has developed such a robust platform and skillset that it is now the leading auction company in Australasia, holding over 30,400 auctions last year—a 21% increase from the previous year. The success rate of auction sales is significantly higher than other methods, and properties sell 40% faster than through private treaty. The longer a property sits on the market, the more buyers question its value, which can hinder its sale.

Auctions are an art and require highly skilled professionals. Our office has been conducting monthly auctions since 1989, more than any other company on the Gold Coast. Experience matters, and it saddens me to see some newer companies claiming expertise in auctions without the necessary depth of knowledge. Sellers need to understand the best method of sale and choose an experienced agent with a proven track record.

With spring upon us, it’s a prime auction selling season. For over 20 years, we’ve promoted our Spring Selection of Gold Coast properties. Capturing the market at its peak is a wise decision for sellers, as no market can boom indefinitely.

Lastly, our Top Dogel event last Saturday was a great success, bringing the community together at Main Beach. Congratulations to our team for their hard work and to our sponsors—Greencross Vets, Petbarn, Little Scholars Early Learning, Schulz Prestige Cars, and the City of Gold Coast—for their support in raising funds for the Animal Welfare League Queensland.

I look forward to being with you in a fortnight’s time.