A Sydney property sold for $2 million over the guide price! The buyer proposed marriage on the spot to cheers from the audience — Sydney’s auction clearance rate reaches 65%

Week’s Key Focus

According to the “Australian Financial Review,” a sandstone mansion in Hunters Hill was sold for $8.5 million, which is $2 million above the guide price. This sale marked the highest auction price in Sydney this weekend. It also became the only property where a marriage proposal took place at the auction site.

The bidding started at $6.4 million, with three parties competing in increments of $100,000. The winning bidders were a couple from the Inner West. The 19th-century residence, featuring five bedrooms, was originally built for Didier Joubert, the first mayor of Hunters Hill.

As soon as the auctioneer’s hammer fell, the male buyer knelt down and proposed to his partner, who was still holding the auction number plate. Within seconds of securing both the house and an engagement ring, the overwhelmed girlfriend accepted the proposal amid the excitement and applause of onlookers in the backyard.

Nicholas McEvoy, a sales agent at BresicWhitney, said the sellers, who were downsizing, were “over the moon.” It’s hard to predict such outcomes with houses like this. There were two very emotional bidders involved, and the competition was intense.

Auction Results Last Week

Sydney: 859 properties were offered for auction, with auction results reported for 558 of them. Out of these, 360 properties were sold, resulting in a clearance rate of 65%. The total auction value was AUD 373,392,088, with a median house price of AUD 1,405,000.
Melbourne: 1071 properties were offered for auction, with auction results reported for 822 of them. Of these, 486 properties were sold, achieving a clearance rate of 59%. The total auction value was AUD 382,979,214, with a median house price of AUD 1,019,000.