Spring selling season kicks off early on the Gold Coast


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The Tugun apartment at 1/351 Golden Four Drive sold under the hammer for $2.5 million.

WARMER weather on the Gold Coast in recent weeks has fast tracked spring selling season market conditions.

Like the sunshine, house hunters were out in force to attend a Tugun beachfront property’s auction at the weekend.

Six bidders vied for the keys to the full-floor apartment on Golden Four Drive, two of which fought competitively.

It sold under the hammer for $2.5 million.

It occupies a full floor and has 20m of beach frontage.

About 70 people gathered at the auction.

Marketing agent Troy Dowker, of Ray White Mermaid Beach, said about 70 people gathered for the auction of the Azure building’s ground floor residence, which has 20m of beach frontage.

“We had 80 inquiries and 58 inspections,” he said.

“It would be one of the better buildings down there.

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“The one (apartment) per floor aspect was really attractive instead of two per floor.”

Mr Dowker said the buyers were from Brisbane.

As they were heading overseas on the day of the auction, the couple sent their son to bid on their behalf.

The apartment will become the family’s four-bedroom holiday home.

A Brisbane-based family bought it.

“The initial plan is to keep it as a second residence with a view of permanently relocating down the track,” Mr Dowker said.

The sale marked the highest recorded auction result among the Ray White Group across the country last weekend.

Mr Dowker said the market was “healthy” in the lead up to spring and expected a bumper selling season.

Latest CoreLogic data to May showed the median apartment price in Tugun had jumped 24 per cent over the past five years to $465,000.

The median price for a house was $650,000.

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