Enlisting the help of family wasn’t enough for a number of first home buyers who bid for the two-bedroom unit.
An investor beat a string of first home buyers, some with help from family, for a Bellevue Hill apartment that sold for $1,125,000 at auction on Saturday.It was one of 628 auctions scheduled in Sydney on Saturday.
He said he had four auctions in the last four weeks, one of which had 10 registered bidders, one five and another seven. There were not many homes for sale mid-winter, compared to the number of buyers looking, he said. “In general it has been pretty tentative… Units are doing a little bit better compared to some of the buyers that were spending $3 million, $4 million.”
Eleven parties registered to bid and five made offers. Bidding kicked off at $1.4 million and despite a slow start, it soon picked up as buyers made $50,000 bids.
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