116-118 Brighton Boulevard, North Bondi sold for $5m, $2m over reserve.

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In a week that the auction clearance rate was just 50 per cent in Sydney’s east, this humble townhouse sold $2m over its reserve price.

Owned by world traveller Barbara Bristowe, who’d bought the two-bedder at 2/116 Brighton Boulevard, North Bondi for $1.4m more than 17 years ago, it fetched $5m at this week’s midweek auction.

It didn’t even have a beach view — just the street. There is a double garage, though, which is worth a fortune in these parts.

“The result just blew everyone away,” says Raine and Horne Double Bay/Bondi Beach agent Monique March.

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It had two bedrooms and open-plan living.

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The 30sqm tiled courtyard was part of the appeal.

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But there’s no beach view, just the street.

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It certainly did. It was a hot auction in every sense of the word, with the air-conditioning not working and auctioneer Damien Cooley looking sweaty in his suit.

There were eight registered, with about six of them competing early on.

Bidding opened at $2.5m and rose quickly in $100k increments all the way to the end.

I recognised the underbidder as Terry Goodman, chief executive of Intech Solutions.

The buyer was a local downsizer.

March attributed the strong result down to North Bondi’s ongoing popularity.

“It’s an incredible position as we all know, Ben Buckler … just moments to the beach and nearby cafes and it had a tiled courtyard of about 30sqm, so the next best thing to a semi.”

It was one of a boutique complex consisting of three townhouses and four apartments. One of the apartments — considerably larger than the townhouse — had recently sold for $7.5m, but that had a beach view.

1/1-3 Warners Ave, North Bondi sold for $2.92m, which was $520k over reserve.

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No beach view, but it had three bedrooms, a double garage and off-street parking for a third vehicle.

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She also referred to “the Bondi bubble”.

“It really does stand out on its own, because people are buying a lifestyle … there’s nothing like it, you’ve got the beach on your doorstep, the lifesavers and the cafes — it’s why buyers pay such a premium.”

Another strong North Bondi result was a three-bedroom townhouse at 1-3 Warners Ave, which sold for $2.92m, which was $520k over reserve, via Raine and Horne Double Bay/Bondi Beach principal Ric Serrao.

No beach view here, either, but it had a double garage and off-street parking for a third.

There were eight registered parties, with most of them active from $2m, with $100k bids to $2.3m, $50ks to $2.75m and odd increments all the way to $2.92m.

But it wasn’t just the beach that was popular.

13 Epping Rd, Double Bay, sold for $4,828,100 — $728,100 over reserve.

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Another strong result was 13 Epping Rd, Double Bay, via TRG’s Oliver Lavers, which had 12 registered parties, eight of them active.

The successful purchaser, a developer, was bidding in odd increments — $1,300, $6,300 — which was a little confusing.

The two-bedroom brick home on a 267sqm block sold for $4,828,100 — $728,100 above reserve.

“Double Bay is always strong — even if the market has been a little tricky lately — and this one had young couples wanting to build their dream home and developers fighting over it,” Lavers explained.

It had been a strong night for Lavers, who sold 15 Olphert Ave, Vaucluse in the mid-$13m range just a minute before it was set to go under the hammer.

He’s had some strong results of late in Vaucluse, with him achieving $5.3m for 5 Hay St; about $11m for 67 Keys Rd and about $9.5m for 28A Towns Rd the week before.

Despite the sweaty conditions, Cooley said the midweek auction was a good night for vendors.

“The room was absolutely packed … and they were some of the strongest results we’ve had all year.

“I don’t think there’s been any change in the market, there were just all good properties going up on that night.

“It was a perfect example of good homes selling for big prices in any market conditions.”