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The spring market continues to surge as Ray White Double Bay’s second auction event of the season showed even stronger results, with a 92 per cent clearance rate.
With $45 million worth of property transacted over just a few hours, the event held at Ray White Double Bay’s auction house saw more than 100 people turn out and 12 out of 13 properties sold.
Director, Craig Pontey said the market was strong due to low stock levels and ease of low interest rates.
“We should continue to see strong price growth over the next few months,” he said.
As multiple buyers bid against each other, all but one property sold for well over $1 million. Mr Pontey said with the line up of quality homes and apartments, it wasn’t surprising to see so many buyers competing on every property.
The most hotly contested property of the night was 8 Greenoaks Avenue, Darling Point which, after spirited bidding, sold for $6.5 million.
The Duplex at 60 Lamrock Avenue, Bondi saw keen bidders taking the price to $3.895 million and a five bedroom home at 19 Fairweather Street, Bellevue Hill went for $4.288 million.
The three bedroom Darling Point apartment with sweeping harbour views at 10/4 Marathon Road fetched $3.365 million and 2 Fletcher Street, Woollahra sold for $3.4 million.
