The largest real estate auction in the country offering 152 properties and 12 luxury boats on sale will begin from January 28 to 30.

The Event 2011 will include residential properties, luxury properties, beachfront apartment, commercial and industrial properties and marine vessels in the Gold Coast.

[Get this delivered to your inbox for FREE. Subscribe to our Real Estate Newsletter.]

Ray White Surfers Paradise RWSP chief executive officer Andrew Bell said it is being held in a period where Gold Coast properties represent what he believes is the best value in decades.

"There are some exceptional buying opportunities being presented in this current market," he said."Gold Coast real estate now represents greater value after price corrections in the last three years; and this value is exemplified when you compare it to Sydney and Melbourne.

"The reality is that the Gold Coast is no longer overpriced, which is an outstanding prospect."

Sellers joining the auction tend to be people wanting to unload their properties this month. Bell said: "We have a selection of top-quality listings and realistic sellers, and subsequently there has been good early interest from buyers who are gaining confidence to re-enter the market and secure well-positioned properties at good prices."

"At this stage it looks like we are getting lots of offers and some will be sold before auction day; the activity is mounting day by day."

More from IBT Real Estate:

Newsletter: To receive real estate update, sign up here