Auction Stampede at Ray White Double Bay with $38m dollars of Homes offered under the hammer

Any talk of banks limiting borrowings doesn’t seem to be dampening Sydney’s Eastern Suburbs property market, if last night’s stellar auction results at Ray White Double Bay is anything to go by.

With buyers spilling out onto the street to get a bite of the action, 11 properties went under the hammer and Nine Sold. Every property attracted multiple bidders, and a total value of just over $30 million of properties sold.

Auctioneer James Keenan was both parched and jubilant after more than two hours of auction action.  “It was amazing to see such spirited bidding on all of the properties. What was incredible was that there were 3 or 4 buyers on each property and some homes had 8 or 9 buyers competing.  One home in particular attracted 34 bids over 40 minutes.”

The sold properties spread across seven suburbs and ranged from a 3 bedroom apartment in a small block of six in Double Bay, attractive to both young families and empty nesters, to a tightly held 2 bedroom terrace in Paddington, and a 4 bedroom home in Vaucluse complete with in-ground swimming pool.  The remaining properties represented Vendors from North Bondi, Bellevue Hill, Rose Bay and Darling Point.

Craig Pontey, Director of Ray White Double Bay has noticed a growing trend of Vendors wanting bigger sales teams to represent the sale of their property.  “With 25 sales agents, we’re able to offer a better service and sharing of buyers to help each Vendor achieve their maximum price. Smaller sales teams cannot offer this cross-over to unearth the very best offer.”

“As well as a celebration for each of our Vendors, tonight demonstrates the commitment of the Ray White Double Bay team to achieve record results.  We are looking forward to a busy May and June with many auctions already booked in, and growing, as the market steams ahead.”

The stats:

• 69 Registered bidders

• 154 Total bids

• 124 Attendees

• 7 suburbs represented

• $30 Million Sold