Auction results from around the grounds

The first weekend of Spring saw a total of 171 auctions conducted across Ray White Australasia with a preliminary clearance rate of 49 per cent.

NSW’s preliminary clearance was 56 per cent, compared to 63 per cent in Victoria and 43 per cent in Queensland.

Overall we had 7129 people attend our auctions, with 2.7 average registered bidders per auction. The highest price property sold under the hammer was 66 Gilgandra Rd, North Bondi that sold for $4.65M.

Ray White Broadbeach sold 8 Paradise Place, Surfers Paradise under the hammer for $3.M in front of a crowd of 25 people.

More than 150 eager locals turned out to see 9 Cameron Ave, Baulkham Hills sell for $1.022M.

Brian White, chairman of real estate agency Ray White, said the majority of the market correction had already happened.

“There has been an adjustment and I believe that much of that ­adjustment has been made,” Mr White said.

“The speed of the growth in Sydney and Melbourne was unsustainable. We are experiencing a healthier market.”

Markets outside Sydney and Melbourne had been resilient. “Only an explosion in interest rates would pull the market down significantly,” he said.

In Greenvale, 9 Macbean Ct, sold for $1.730M in front of crowd of 120 people and Ray White Gladstone Park director and auctioneer Malek Younan.

Spring selling season kicked off in Sydney when the luxury waterfront trophy home at 3 Baden Road, Neutral Bay hit the market with hopes of smashing the lower north shore residential price record for its absolute harbourside position. Owners Vonnie and Bill Wavish have put their 878sq m four level waterfront residence on the market with Ray White Lower North Shore principals Geoff Smith and Richard Harding through an expressions of interest campaign. "There’s strong demand in the super luxury property market in Sydney right now and this property is set to create a new benchmark,” Mr Smith said. "We have sold some of the area’s finest homes in recent months for more than $68M combined and we had pent up demand on all of them. People who know Sydney, know that Neutral Bay or Kurraba Point offers the best vantage point to see the whole harbour in all its glory.”"I’m expecting there to be national and international interest in t

his incredible property.” Built on the edge of the Sydney Harbour, 3 Baden Rd, Neutral Bay is a five bedroom contemporary masterpiece with views on all four levels of the iconic Opera House and the Harbour Bridge. A trophy home of grand proportions, this luxury escape with a buyer’s guide of $35M, sits on the edge of Sydney Harbour with a picture postcard view of the Opera House and Sydney Harbour Bridge. This is the ideal spot on Sydney Harbour to enjoy New Years Eve with three lots of fireworks.

On the Gold Coast, 44 Fitzwilliam Street, Carrara sold prior to auction for $1.47 million to a Chinese investor. Sam Guo of Ray White said the property was targeted at both the Australian and Chinese market and was advertised through Chinese social media and newspapers. “The home was listed with another agent previously but didn’t sell as it was overpriced. Both parties were very happy with the outcome.” Mr Guo said the Gold Coast market is very stable, and any good, well priced property in a great area will sell.

Spring starts with several homes sold under auction conditions. THE last time this Brisbane home was sold, the vendors handed over $145,000. There was a vastly different figure on the table yesterday - a seven-figure one - when the hammer dropped. HOW does an 814 per cent return on your investment sound? Well that’s roughly the percentage increase the sellers of 32 Percival Tce, Holland Parkgained in the 31 years they owned the home. The vendors purchased the property for just $145,000 in 1987, and sold it under the hammer yesterday for $1,326,000 to a local family. Ray White Sherwood/Graceville sales executive Lachlan Humble said more than 70 people had inspected the home in the lead up and about 50 of them turned up to the auction. Mr Humble said a whopping 11 bidders registered to buy the home, and bidding started at $900,000. “We probably had between 20 and 30 bids to get $1,326,000,” he said. Mr Humble said the vendors were happy with the results, but had mixed emotions about leaving after 30 years.