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Yep we have got on top of inflation, people have stopped spending stupid money on houses. ?Roll up, rollup, ladies and gentlemen, everyone's a winner.?Why go to the casino? take a sure bet on Sydney property, we will bring in new motivated buyers for you, and stream real estate dot com on the inbound flights.?[URL unfurl="true"]https://www.smh.com.au/property/news/first-home-buyer-beats-26-bidders-to-one-bedroom-unit-with-847-000-bid-20230525-p5db5z.html[/URL]A whopping 27 buyers registered to bid on a one-bedroom Newtown unit that sold for $847,000 at auction on Saturday.A first home buyer made the winning bid for renovated apartment at 13/39 Laura Street, which had been guided at $650,000 throughout the campaign.Bidding was quick to start at $685,000, and climbed rapidly as five first home buyers made offers.The result was well above the $730,000 reserve price, and the $625,000 that records show it last traded for in December 2020.The final price would not qualify for a first home buyer stamp duty exemption, even under the government’s proposed increased price caps, which would lift the eligibility threshold from $650,000 to $800,000.Such a sale could qualify for a duty concession come July if the cap lifts from $800,000 to $1 million.Successful buyer Millie was not surprised by the strong turnout or result, having missed out on multiple other homes in her one-year property search.“I’ve been to enough auctions now that I know the price guide for something like this, and the competition for something like this,” the 32-year-old film writer and director said.“In Sydney you’re never going to get a bargain. There is so much vicious competition to get in at the moment. There’s just nothing on the market, so I’m not surprised that it went for that price or with this many bidders. I was really prepared.”She was close to missing out on the unit as well, having set herself a maximum budget of $850,000, given concern for further potential rate hikes.“I know that I can afford it and I know it might mean not going on holidays as much, but I’d prefer it. I want to set up a home and to start setting up my financial future.“The rental market is f-----. Sydney is f-----. It’s so hard to live here and so hard to rent, so hard to buy. Your option is either paying exorbitant amounts of rent or paying off a mortgage.”Selling agent Astrid Joarder of Ray White Surry Hills had anticipated a strong turnout, but was still surprised by the result.“I was anticipating it to be busy, but I certainly didn’t expect it to go as well as it did,” Joarder said.Many in the crowd were shocked by the result and some were annoyed that it was guided almost $200,000 below what it sold for, but Joarder said the price guide was based on buyer feedback throughout the campaign.
Yep we have got on top of inflation, people have stopped spending stupid money on houses. ?
Roll up, rollup, ladies and gentlemen, everyone's a winner.?
Why go to the casino? take a sure bet on Sydney property, we will bring in new motivated buyers for you, and stream real estate dot com on the inbound flights.?
[URL unfurl="true"]https://www.smh.com.au/property/news/first-home-buyer-beats-26-bidders-to-one-bedroom-unit-with-847-000-bid-20230525-p5db5z.html[/URL]
A whopping 27 buyers registered to bid on a one-bedroom Newtown unit that sold for $847,000 at auction on Saturday.
A first home buyer made the winning bid for renovated apartment at 13/39 Laura Street, which had been guided at $650,000 throughout the campaign.
Bidding was quick to start at $685,000, and climbed rapidly as five first home buyers made offers.
The result was well above the $730,000 reserve price, and the $625,000 that records show it last traded for in December 2020.
The final price would not qualify for a first home buyer stamp duty exemption, even under the government’s proposed increased price caps, which would lift the eligibility threshold from $650,000 to $800,000.
Such a sale could qualify for a duty concession come July if the cap lifts from $800,000 to $1 million.
Successful buyer Millie was not surprised by the strong turnout or result, having missed out on multiple other homes in her one-year property search.
“I’ve been to enough auctions now that I know the price guide for something like this, and the competition for something like this,” the 32-year-old film writer and director said.
“In Sydney you’re never going to get a bargain. There is so much vicious competition to get in at the moment. There’s just nothing on the market, so I’m not surprised that it went for that price or with this many bidders. I was really prepared.”
She was close to missing out on the unit as well, having set herself a maximum budget of $850,000, given concern for further potential rate hikes.
“I know that I can afford it and I know it might mean not going on holidays as much, but I’d prefer it. I want to set up a home and to start setting up my financial future.
“The rental market is f-----. Sydney is f-----. It’s so hard to live here and so hard to rent, so hard to buy. Your option is either paying exorbitant amounts of rent or paying off a mortgage.”
Selling agent Astrid Joarder of Ray White Surry Hills had anticipated a strong turnout, but was still surprised by the result.
“I was anticipating it to be busy, but I certainly didn’t expect it to go as well as it did,” Joarder said.
Many in the crowd were shocked by the result and some were annoyed that it was guided almost $200,000 below what it sold for, but Joarder said the price guide was based on buyer feedback throughout the campaign.
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