Wednesday, June 27, 2007

Sydney Tuesday 22nd May, 2007 – Last night The Ray White Double Bay Group achieved an adjusted clearance rate of 65% with 41% of properties being sold prior at the in rooms auction held at the Stamford Plaza Double Bay.

“This result confirms our recent observation that as clearance rates increase, some vendors expectations move in the same direction with many recognising outstanding offers prior to auction and selling” says Craig Pontey, Director Ray White Double Bay Group.

The successful sale of 6 Langlee Avenue, Waverley for $1.4 million ($200,000 over the reserve), a deceased estate on the market for the first time in 40 years, presented the opportunity to buy one of the last remaining original homes in the beachside enclave. With 55 bids taken on the property the level of interest expressed at the auction demonstrated that demand in some areas is starting to outstrip supply, in part a result of the Superannuation Incentive.

“As we get closer to Winter we often see less properties go to market as most vendors perceive it is not a good time to sell however with these recent trends there couldn’t be a better time to sell given the level of demand and recent results”. “You sell when the buyers are out not when the flowers are out” says Michael Finger, Director Ray White Prestige.


Consistently delivering great sales across the Eastern Suburbs, Inner City, Harbourside, Parkside and beachside locations, and retaining the highest average clearance rate in Australian real estate, The Ray White Double Bay Group includes Ray White Double Bay, Ray White Circular Quay, Ray White Surry Hills/Alexandria, Ray White Commercial and Ray White Double Bay Property Management.

The Groups outstanding achievements have led to the creation of the companies “Success” book which will be launched over the next week. This book is a testament to Groups hard work, experience, and strong relationships with a reputation for unwavering professionalism based upon the principal of success being no accident.

For more information please contact:

Craig Pontey, Director Ray White Double Bay Group 0419 40 40 40
Mike Finger, Director Ray White Prestige 0425 233 488
Paul Lowe, Director of Sales & Marketing 0412 298 098

- Success is no accident