20c/50 Whaling Rd, North Sydney, has panoramic views.

As spring looms, today’s 88.4 per cent auction clearance rate will encourage home sellers and some buyers already have “fear of missing out”.

A lower north shore agent says the market is “just getting better and better” after a North Sydney apartment sold to an investor for $1,306,000 — $106,000 above reserve. — at auction today.

The two-bedroom level-20 Holmsdale Tower apartment with off-street parking, 91 sqm of living space and panoramic harbour views at 20C/50 Whaling Rd attracted six registered parties and all competed.

Chris Bell of Milson Real Estate said: “Buyers are aware the adjustment has now happened and fear of missing out is coming back … the market’s the best it’s been since the beginning of last year!”

The auction was one of 407 scheduled today. With 242 of the results in, CoreLogic auctions commentator Kevin Brogan said the 88.4 per cent clearance rate was “amazing”.

The result was 5.5 per cent higher than last Saturday. “Another ‘wow’,” Mr Brogan said.

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Take a seat at 20c/50 Whaling Rd, North Sydney.

Mr Bell was shocked at the result of the North Sydney auction, which had Lachlan McDonald of Cooley’s as the auctioneer.

“I thought we could get up to $1.2 million but … a couple of people really wanted it,” Mr Bell said.

He said a similar apartment on a higher floor had sold for $1.17 million after having a $1.3 million asking price last year.

7 Cobar St, Willoughby, sold for $4.01 million

“So we had a $1.1 million price guide on this and thought we might get $1.2 million, but not this.”

Mr Bell said the buyer was an investor who lived close by and had multiple properties.

McGrath Willoughby principal John McManus also had a good day with two big homes fetching big prices.

A five-bedroom, four-bathroom house at 7 Cobar St, Willoughby had four registered bidders and all of them competed. It sold for $4.01 million, which was $10,000 above reserve.

19 Muttama Rd, Artarmon., sold for $3,535,000.

And a four-bedroom, two-bathroom house at 19 Muttama Rd, Artarmon attracted seven registered bidders with five of them active. It sold for $3,535,000, which was $35,000 above reserve.

Both sold to local families.

Mr McManus said his agents kept buyers informed on the improved market conditions, which meant sale prices were closer to reserves — buyers and sellers were now well aligned.

“We’re getting the right sort of buyers at our auctions,” Mr McManus said.

“We’re able to give them more accurate feedback and buyers can actually see what they have to bid up to, which makes it far easier for both buyer and seller.”