Auction clearance rate on the northern beaches very high

AUCTION sales of property on the northern beaches are still very strong, despite a slowdown in the rest of Sydney

• Vinnies site to become fresh food market
• Developers eyeing Warringah golf club
• Manly Pavilion to re-open

THE   northern beaches notched up an impressive 86.21 per cent auction clearance rate over the weekend — despite the rest of Sydney only clearing 70 per cent.

Twenty-nine properties were offered at auction on the northern beaches over the past week. Four homes sold early, 21 sold on the day, three were passed in and only one was withdrawn.

A standout auction was in Freshwater where a dated three-bedroom house on a small block of land sold for $332,000 over reserve.

27 Wyuna Ave, Freshwater which sold for $332,000 over reserve at the weekend.

Mike Dunn, of Clarke and Humel, said 27 Wyuna Ave attracted a big range of buyers, eight registrations and a big price of $1,932,000.

“We had people who wanted to renovate the home, people who wanted to knock it down and investors,” Mr Dunn said. “What is driving this market at the moment is limited stock.”

The kitchen of 27 Wyuna Ave, Freshwater which sold for $1.932 million at the weekend.

There are normally much more than 1000 northern beaches homes for sale at any one time. According to CoreLogic RP Data this week there are only 895 properties available, including 59 homes fresh to the market this week.

One of the busiest auctions on Saturday was a two-bedroom fibro cottage in North Narrabeen which had 13 groups register to buy it.

The fibro cottage at 24 Darius Ave, North Narrabeen, which sold for $1.39 million under auction conditions.

The 1950s cottage at 24 Darius Ave was on 700sq m of level land. Bidding opened at $1.1 million and quickly rose to $1.3 million. Although bidding stalled, the cottage sold later that day for $1.39 million.

Martha MacLaurin-Wood, of Drake Real Estate, said the new owners were a young family.

“The market is quite strong,” she said.