Queensland saw more than $140 million sold across just two auction events over the weekend, kicking off the year’s real estate auctions with a record-breaking bang.
Sunday’s The Event 2026 from Ray White Bell Group saw $105m worth of homes sold across 101 Gold Coast auctions, with an average of $1.04m per sale.
A third of the homes on offer ended up selling before bidding even began, with a pre-sale total of $64 million.
Two Ray White auction events over January 26 and 27 saw more than $140 million worth of homes sold, with $105m sold at The Event 2026. Picture: Celeste Humphrey
This broke records for the 32 year-old event: for the total value of homes sold before the auction day, and total value overall.
Ray White Bell Group co-owner Andrew Bell said this was a clearance rate of 84 per cent, and was expected to increase to 94 per cent by Tuesday.
“There were some periods of very aggressive bidding,” he said. “There’s this sense people are experienced with auctions now, that’s not how it was years ago.
“People are seeing property values rising, want to be a part of it and get in.”
Ray White Bell Group co-owner Andrew Bell said he found buyers were more experienced with auctions than they were ever before. Picture: Celeste Humphrey
Some buyers were struggling with displaced housing and debt when they bought a property, with one Southport buyer having been living in her car. Picture: Celeste Humphrey
Some buyers are feeling the pressure of the tight housing market more than ever.
One woman, who had sold her home before seeing a sudden rent termination, was living in her car at the time of the event.
“It’s super competitive,” she said. “The demand is raising the prices beyond reason.”
When she arrived on the day, she found a home up for sale in Southport, which she managed to purchase at auction for $630,000.
“My temporary housing was gone,” she said. “It’s vacation time, so there is no vacancy anywhere on the Gold Coast, so I was sleeping in my car … I’m holding back tears right now.”
The top sale of the event was for the luxury home at 5719 Anchorage Tce, Sanctuary Cove.
The house was one of the third of properties that sold before the day, and went for $13m.
“I think a lot of people have accepted they’re going to be in debt,” Mr Bell said. “But that’s preferable than living in uncertainty, rental accommodation, unsure whether landlords are going to sell their property. To own the roof over your head is a wonderful thing.”
The median house price for the Gold Coast is $1.4 million: the second-most expensive place to buy in Australia, following Sydney.
The top sale for the event was a whopping $13m, which ended up selling before the day itself.
5719 Anchorage Tce, Sanctuary Cove, is a luxury home with 40m of water frontage on a 2,000 sqm lot.
The most registered bidders for the event was for 1/14-16 Bright Ave, Labrador, which had 12 registered on the day.
Five of the bidders were actively placing offers for the home, which sold for $820,000.
An anonymous buyer was eager to grab the five-bedroom, five-bathroom home, which drew inspiration from Palm Springs architecture, before it went to auction.
On the day itself, the two-bedroom unit at 1/14-16 Bright Ave, Labrador, made a record for the most bidders at the event.
12 registered bidders, five active, went head-to-head for the home, and the unit sold under the hammer for $820,000.
The Alfresco Auctions event, put together by Ray White Main Beach and RWC Pacific Group, saw 187 registered bidders overall.
The top sale was a $12.1m buy for an entire Officeworks building, which had an estimated net income of approximately $783,830 per year.
Meanwhile, Ray White Main Beach and RWC Pacific Group hosted their Alfresco Auction event on Saturday, where the total properties sold valued at $37,419,000.
15 out the 18 properties for sale found new buyers on the day, with the top sale being for an entire Officeworks building.
5/48 Browns Plains Rd, Browns Plains, has an ongoing lease with the supply giant, and an estimated net income of around $783,830 annually.
At the end of the day, the building sold for a total of $12.1m.
40 Dawn Pde, Miami, was a home being sold by a mortgagee exercising power of sale.
The run-down home was advertised for its land potential, and saw a whopping 28 registered bidders before selling at auction for $1.6m.
The event also saw the most registered bidders across both weekend events, when 28 buyers registered for 40 Dawn Pde, Miami.
The run-down home was sold by the old owner’s mortgagee, exercising their power of sale: where a lender is able to sell a borrower’s home in order to help repay the debt they are owed.
Despite the home’s state, the land size, location and guarantee of sale meant bidding ended in a final sale price of $1.6 million.
All in all, the event saw more than 400 attendants and 187 registered bidders.
In 2025, Ray White’s total sales value across Australia was $82 billion.
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