Northern beaches heads Sydney’s hot auction results
Sydney recorded its highest auction clearance rate last weekend since February 2017.
Across the city 500 auctions took place and Sydney clocked up an auction clearance rate of 84.7 per cent compared to 53 per cent this week last year.
But on the northern beaches 41 properties were offered and the area recorded an auction clearance rate of 93 per cent — the highest in Sydney.
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Agents say properties that offer a wonderful lifestyle for families are seeing big numbers at open homes, double-digit registrations at auction and sales figures hundreds of thousands of dollars over reserve.
The top three sales on the northern beaches this weekend were all family homes in reputable streets within easy reach of a beach.
The top sale was $2.84 million for a five-bedroom house at 18 Travers Rd, Curl Curl.
Matt Morley, of Doyle Spillane, said five people signed up to bid for the beach house which had a guide of $2.7 million and which was on just 290sqm of land.
“There is still a real shortage of good quality properties for sale,” he said.
“Manly is so expensive so neighbouring suburbs such as Freshwater and Curl Curl are seen as good choices,” he said.
“And Curl Curl beach is like a country beach at the weekend, it is so quiet,” he said.
Number 7 Robert St, Freshwater was the second highest auction selling for $2.671 million. It’s guide was $2.2 million.
Toby Hutton, of Raine & Horne Manly, said Freshwater was a hugely popular suburb with its village feel, safe sheltered beach and good schools. He sold a deceased estate on 688sqm of land, which is large for Freshwater. Sixteen groups competed for the old home which had a perfect north-to rear aspect and which was opposite a reserve.
Bidding opened at $2.25 million and the hammer fell after very spirited bidding. The new owners are a young family from Sydney’s inner west looking for a forever home with a garden.
The third highest sale was nearby at 18 Thomas St, North Manly where buyers who had been renting in the area paid $2.406 million for a four-bedroom house on 677sqm of land.
James Smyth, of Smyth Estate Agents, said the number of people at open houses was up 20 per cent on this time last year, buyers were fully approved from their banks this year compared to last and demand was so high he was recommending all his vendors take their property to auction.
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Current stock levels on the northern beaches, according to CoreLogic, are low with 716 residential properties for sale. This week last year there were 991 properties on the market and this week in 2017 there were 805 homes for sale.