Some $30.4 million (£19 million) worth of Australian property was sold in an auction last weekend.
A total of 103 Gold Coast properties were on sale at the auction, held by real estate agent Ray White, and 44 of them sold, the Australian newspaper reports.
Andrew Bell, chief executive of Ray White Surfers Paradise, said that he expects more properties in the area to sell soon.
Number 34 Admiralty Drive, Paradise Waters, sold for $4.8 million to buyers who live in a nearby street.
This property boasts rooftop and riverfront entertaining areas, a gym, a theatre and four bedrooms, all of which have en suites.
"What we are seeing now is some of the best-value buying in many years and with buyers more confident to re-enter the market," said Mr Bell.
Last month, Gold Coast Tourism said it is directing its best efforts towards attracting visitors to the area, stressing that not the whole of Queensland was affected by the recent floods.
Posted by Steve Douglas
