Downsizer pays $12.12m for stylish Bronte house in hot auction

Key points

• A local downsizer paid $12.12 million for a five-bedroom Bronte home at auction on Saturday, $870,000 above the reserve. Preliminary figures from Domain put Sydney's auction clearance rate at 52 per cent, below the 60 per cent level that signals a balanced market.
• In West Pymble, a young family paid $2.3 million, the reserve, for a three-bedroom house.
• In Homebush, a family upgrading from Eastwood paid $4,151,000 for a renovated five-bedroom home, just below its $4.2 million reserve.