Ray White Surfers Paradise sell $20m worth of property

Ray White Surfers Paradise sold more than $20 million worth of property over the weekend at their mega-auction, The Event.

Drawing a crowd of more than 1000 people, including 243 bidders, The Event saw 99 properties go under the hammer, 60 per cent of which sold.

The top sale of the day was the penthouse in the ‘Nirvana by the Sea’ building in Kirra, which sold for $3.755 million through Michael Willems and Robert Graham. It last sold for $2.75 million in 2011.

Other sales included 26 Champagne Blvd, Helensvale, which went for $847,000, 70 Galeen Drive, Burleigh Waters, sold for $613,000 and a developer snapped up 50 Falkinder Ave, Paradise Point for $480,000.

Now in its 22nd year, Ray White Surfers Paradise Group chief executive, Andrew Bell, said the 2015 auction was one of the best on record.

“Properties were selling well over reserve prices and many properties that sold had four or five bidders competing,” he said.

“It was a big step up from last year. There were more people here and more bidders per property on average.

“Selling close to 60 properties in the space of six hours is a big statement for the state of the local property market.”

Mr Bell said investors dominated this year with a strong showing from Melbourne and Sydney buyers.

“The high volume of investors says a lot about market confidence and discretionary spending power,” he said.