A two-bedroom house in Sydney’s eastern suburbs sold for $550,000 below reserve on Saturday, pointing to a spring in which buyers will negotiate harder with sellers as more homes come on the market.
A young family, one of just two parties bidding for the 140 Denison Street home in Queens Park that passed in at $4.8 million, secured it at a negotiated price of $4.95 million, well below the $5.5 million reserve, McGrath Coogee agent Chris Volpatti said.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
