Sole bidder wins keys to $1.1m beachside apartment as market softens
A woman was the sole bidder for a two-bedroom apartment in Cronulla, purchasing it for $1.1 million at auction. Despite three registered bidders, only one participated, reflecting a cautious approach to the current property market. The sale price was $50,000 below the reserve, indicating a softening market trend.
- ▪The apartment is located just minutes from North Cronulla Beach.
- ▪The initial bid of $850,000 was rejected, and the winning bid started at $1 million.
- ▪The property was sold for $50,000 less than the reserve price of $1.15 million.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.