Termite-damaged Mermaid Waters home fetches $2.648m at auction after year on market

Key points

• A termite and mould-damaged waterfront home at 46 Markeri St, Mermaid Waters, has sold at auction for $2.648 million. Three bidders competed for the property, which sits on a 1148 square metre block with 62 metres of water frontage.
• The home had been on the market for a year before the auction campaign. Its sellers, two sisters-in-law from the Percuoco family, had lived there for 30 years.
• The agent said the buyer, a local purchaser from the agency's database, plans to take advantage of the home's potential as a dual-occupancy property.