Neighbour pays $1.68m for unit with garage, beating five first home buyers
- Posted on September 21, 2026
- By The Sydney Morning Herald
- 1 Views
- 1 min read
In brief
An existing neighbor has successfully acquired a prestigious Art Deco apartment through auction, securing the property for $1.68 million and outbidding five aspiring first-time homebuyers. The winning bid exceeded the reserve price by $80,000, granting the purchaser ownership of half the exclusive boutique building. This competitive auction highlights the intense real estate market dynamics where established investors maintain advantage over new market entrants seeking affordable housing opportunities.
Summary auto-generated by AI from the original publisher's content. Editorial standards.
Neighbour pays $1.68m for unit with garage, beating five first home buyers
The buyer will have ownership of half the boutique Art Deco building after paying $80,000 more than the reserve price at auction.
