Double Bay Auction Results – 16 August 2011

It was a very busy night in the auction room on Tuesday evening – it’s actually been the busiest we have seen the room in over 3 months. Twelve (12) properties went up for auction, eight (8) were sold, three (3) were passed in and one (1) withdrawn. It’s great to see more buyer activity in the market place and fresh stock coming on the market. We are seeing a surge in investment buyers on the hunt as maybe they are steering away from the volatile share markets.

There was strong bidding between two parties on the block of units (12 x 1bed) for 9 Balfour Road, Rose Bay – It sold for $6,675,000. Also, 12 Niblick Street in North Bondi was a charming freestanding beach house which sold for $2,186,500 which was good buying.

It is our opinion that the market is going to start picking up now until the end of the spring selling season, so for those of you who are looking to take advantage of the current market and low prices, now would be the time as we believe the deals that we have been seeing out there will be drying up shortly

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