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Sydney auctions: First-home buyer drops $1.689m on Coogee unit thanks to Bank of Mum and Dad – Domain News

Four bidders pushed the price $189,000 above reserve, chasing the top location and quality of the renovation work. The home sold for almost double its last sale…

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A first-home buyer paid a staggering $1.689 million for a two-bedroom unit in Coogee with the help of the Bank of Mum and Dad and family.
A little over a dozen people, including seven registered buyers, showed up to watch the modest home at 8/1-3 Waltham Street go under the hammer.
It was one of 959 homes scheduled to go to auction in Sydney on Saturday.
By evening, Domain Group recorded a preliminary clearance rate of 81.5 per cent from 717 reported results.
Four parties were actively bidding on…

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