First home buyer pays $1.3m for inner south warehouse conversion

Key points

• A first home buyer paid $1,305,000 for a two-bedroom apartment in Alexandria on Saturday, $55,000 above the reserve. The converted warehouse unit at 2/145 Belmont Street drew five active bidders.
• The new owner, who has been renting locally, said cooling market conditions gave him confidence to wait before buying. In Mosman, a five-bedroom home in Beauty Point passed in at $9.85 million after a vendor bid.
• In Huntleys Cove, a ground floor apartment sold for $1.97 million, $20,000 above its reserve.