Three parties offered more than $7 million for a Brighton fixer-upper, and a Kew home soared about $430,000 above reserve in signs the property market is changing gears.
Three parties offered more than $7 million for a Brighton fixer-upper, and a Kew home soared about $430,000 above reserve in signs the property market is changing gears.
The period house attracted four bidders at auction this weekend and its new owners, who spent more than $500,000 over the reserve, plan to demolish it and build townhouses.
Auction clearance rates have picked up, and some sales are strong, but concerns about interest rates and the economy are still putting buyers and sellers off.