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Auctioneer Vic Lorusso at 2 Orange Grove, Frenchs Forest.
You know the market is picking up the pace when auction campaigns re-emerge as an effective way to sell property.
And judging by some of this week’s results, the proof is already there.
In addition to this, CoreLogic reports the days on market for properties being sold through an auction campaign have dropped to 26 days, from 32 the previous week.
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The northern beaches’ auction clearance rate was 75 per cent, not far off Sydney’s general rate of 77 per cent.
What that doesn’t reflect is the growing volume of properties selling days — or in some cases weeks, before auction.
One of the standout auctions last weekend was at 2 Orange Grove, Frenchs Forest.
Michael Buckley and Jay Alcock, of First National The Forest, took 157 groups through the contemporary-style family home.
2 Orange Grove, Frenchs Forest.
The private back yard.
Auctioneer Vic Lorusso in action at 2 Orange Grove, Frenchs Forest.
Mr Buckley said many of them were first home buyers drawn to the quality of the house and the 727sqm block, as well as the quiet cul-de-sac location.
“We had first home buyers in their droves,” he said.
“Everyone was asking us, when do you think it’s (prices) going to stop dropping. If I was thinking about buying, I wouldn’t be waiting a week longer, provided you can find something to buy.”
Mr Buckley said bidding started at $1.4 million, and with half of the registered bidders participating, the hammer eventually fell on $1.59 million, which was $40,000 above the $1.55 million reserve.
“The owners were very happy with that,” he said.
The buyers are a young family, who were also the first to kick off the bidding. In a twist, they welcomed their third child into the world the day after they bought the home. It made for an action-packed weekend for the family, who have not been identified.
“They were very laid back bidders,” Mr Buckley said.
He said anyone considering selling should not wait until spring, which incidentally is now less than six weeks away.
“Get your house on the market now because there is a lack of stock on the market, and there are a lot of buyers around,” he said.
Closer to the beach in North Manly, a brand new home didn’t even make its date with the auctioneer’s hammer.
The owners of a the home, at 5 Waiwera Ave, received their occupation certificate from the council just a week before putting the property to market.
They had planned a four-week auction campaign, so thought there was plenty of time to spare.
In the end, the architect-designed home, sold in eight days for $2.96 million, well over the $2.895 million guide.
5 Waiwera Ave, North Manly.
Contemporary design.
The pool.
It also blew the street’s previous sales record of $1.88 million, out of the water.
Mark Griffiths, of Ray White Seaforth, said the interest in the five-bedroom home was huge. In the eight days it was on the market, he showed 75 groups through.
“It didn’t surprise me though — it’s such a beautiful home,” he said.
“The people who bought it came from Manly Vale, but the buyers came from everywhere, including the eastern suburbs, Mosman and north shore.”
The home was designed to make the most of the north aspect, and cutting edge features made it a standout.
Set over two levels, the home has multiple living spaces, decks both at the front and back and an infinity pool. Other features include European oak floors, high ceilings, stone wrapped kitchen with island bench, ducted airconditioning, security alarm, double garage with internal access, child friendly lawns and cubby.
Mr Griffiths said North Manly was fast catching up to its more expensive neighbours Manly, Freshwater and Queenscliff.
“There is definitely more buyer activity out there than there was,” he said.
“There’s just not many properties around — and definitely not brand new homes.”
Another property that didn’t make it to auction was a second-floor apartment in the heart of Manly.
Art Deco fans were lining up to get a look at a rare three-bedroom apartment right on Manly Corso.
Agents Toby Hutton and Mark Madsen, of Raine & Horne Manly were going to take the second floor apartment to auction last weekend but it sold four days before that for $1.7 million.
6/2c Darley Rd, Manly.
Masses of space.
The shared rooftop balcony.
This was also well over the $1.6 million guide set for 6/2c Darley Rd, Manly.
Mr Madsen said there had been a lot of local interest in the property, but in the end it came down to a few buyers who were upsizing from other Art Deco apartments in the area.
“The size of the apartment was a big attraction,” he said.
With about 111sqm on title, the apartment also has access to a shared rooftop terrace with a northerly aspect and about 100sqm of space.
The apartment bears many of its original heritage hallmarks, including high ceilings, timber floors, colonial windows and period-style main bathroom.
The lounge and dining rooms open out to a classic “old Manly” covered balcony (pictured above).
“Properties like this don’t come along very often,” Mr Madsen said.
He said agents were finding the lack of stock across the board challenging.
“I can’t recall ever, a time when stock levels are as low as they are,” he said.
“Who knows what will happen this spring, it’s like the flip of a coin.”