Andrew Bell says many homes have sold ahead of auction amid strong demand
First-home buyers have been warned to slash lifestyle spending as cutthroat bidding erupts for a shrinking pool of affordable homes ahead of a major long-weekend auction event.
About a third of properties slated to go under the hammer at The Event have already sold before auction, an extraordinary pre-sale result organisers say is a record for the showcase.
Jointly hosted by Ray White Bell Group, Alliance and Sanctuary Cove offices, The Event is one of a slew of bumper auctions run by the Gold Coast’s biggest agencies, Ray White, Amir Prestige and Kollosche, to capitalise on the summer holiday market.
Ray White Bell Group head Andrew Bell said the surge in pre-action sales, with 33 properties snapped up by Thursday, reflected mounting pressure on buyers priced out of premium suburbs.
Buyers may need to cut lifestyle spending like matcha lattes to save for a home
“First homeowners...have to sacrifice,” he said.
“You can’t do all the things you want to do, the holidays, the nice car, matcha and avocado toast.”
He advised young buyers to “become more conservative with [their] ambitions of what to buy”.
“It is not getting better. We know particularly at this time of year, kids are back to school...you’ve got all your credit card bills from Christmas, holiday costs.
“It’s a difficult time of year and everything is going up in cost, it’s not just housing.”
6/107 Stanhill Dr, Chevron Island
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Buyers were best off getting into the market sooner, swapping their beachside dream for a bridesmaid suburb, or settling for a smaller property, he said.
Mr Bell said buyers were increasingly abandoning negotiation tactics after repeatedly missing out.
“Buyers are more aggressive in pursuit of property in 2026,” Mr Bell said.
“They just want to get a place. They’ve missed out on so many so they put in a really good offer instead of lowballing.”
The agency had responded to the broader cost-of-living crisis by sourcing a wider selection of homes to bring to market.
155-157 Long Rd, Tamborine Mountain
“We identify this is where the biggest demand is.
“Today the turnout for properties that are sub-$1m is huge, there’s a massive queue of people to get in.
“Everyone wants a home, but not everyone can afford $2m, where so much of our Gold Coast property is now,” Mr Bell said.
More than 300 properties were listed across Ray White’s combined weekend auctions, from vacant land to prestige homes, one-bedroom units to brand-new penthouses, plus a mix of commercial properties, office space, retail and industrial.
The Event is held Sunday, January 25 from 11am at RACV Royal Pines Resort, Benowa.
11 Karratha Ct, Mermaid Waters
ANDREW BELL’S TOP PROPERTY PICKS
6/107 Stanhill Drive, Chevron Island
This property offers spacious living space in the newly built HELM complex of 10 apartments.
“Chevron Island has become one of our hot spots, surrounded by water and right in the heart of our city, on the fringe of Surfers Paradise but with its own distinct character.”
11 Karratha Court, Mermaid Waters
A five-bedroom home in a quiet cul-de-sac in one of the city’s most popular markets.
“Fully renovated by a top grade builder and nothing to do apart from move in and love the home.”
106-108 Eugaree St, Southport
106 -108 Eugaree Street, Southport
Two adjoining homes, zoned for redevelopment in a centrally located hotspot.
“Developers are clamouring for more sites. This one lends itself to townhouse development, small blocks of apartments.”
64/18-22 Orchid Avenue, Surfers Paradise
Prime office space close to with potential for a new high-rise development.
“As the city grows, we need to continue to provide professional space for businesses that service the population growth. It’s got beautiful usage and benefits now, but you’ll get a knock on the door for a nice capital gain down the track.”
155-157 Long Road, Tamborine Mountain
A mixed retail and residential property formerly owned by Australian country singer-songwriter Lee Kernaghan.
“This one has had tremendous enquiry. It’s the most commanding site in the street, with fixed income at the moment through three tenancies, two retail and one residential tenancy.”
64/18-22 Orchid Ave, Surfers Paradise
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