PHOTO: Auctioneer Max Wylie had plenty of first-home buyers on his hands at the auction for 404C/8 Loveridge Street, Alexandria. Photo: Peter Rae
It was a battle of the first-home buyers when an inner-city unit went under the hammer on Saturday, drawing a whopping 35 bidders on the city’s biggest auction day in almost two years.
More than 120 people, mostly first-home buyers with their parents in tow, turned out for the auction of the one-bedroom loft-style unit in Alexandria – one of 911 Sydney homes taken to auction on Saturday.
By evening, Domain Group had recorded a preliminary clearance rate of 82.2 per cent from 599 reported results, indicating a strong market and plenty of buyer demand even as more homes were listed for sale.
Despite the huge turnout, the bidding was all over in a matter of minutes, with the hopes of most first-home buyers dashed by the second bid.
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