PHOTO: Brendan and Joann Bell celebrate after winning the auction. Picture: David Swift Source: News Limited
First homebuyers have been struggling in recent weeks due to unprecedented hikes in property prices but a family of first-time buyers claimed a rare victory at auction Saturday.
Brendan and Joann Bell snapped up a two-bedroom house in a sought-after pocket of inner west suburb Leichhardt for $1.59m after coming up against seven other registered bidders.
The couple were seen celebrating after the sale and told The Sunday Telegraph they were “relieved” their search for a home was over and they wouldn’t have to continue competing in the red hot market.
The Macauley St auction was one of only about 50 scheduled over the Easter long weekend – traditionally a quieter period for property sales activity.
But the lower volume of auctions was not matched by a drop in buyer turnout and most properties that went under the hammer over Saturday sold successfully – often well above reserve.
Auctioneer Clarence White said sellers were beginning to inflate their reserves but were still getting prices well over. Picture: David Swift Source: News Limited
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