Maroubra ‘blank canvas opportunity’ goes for $7 million

要点

• A modest bungalow in Maroubra with ocean views sold at auction for $7 million on Saturday, well above its $6.5 million reserve, after a developer competed with two owner-occupier bidders. The buyer plans to demolish the house and build a new home.
• Ray White director Angus Gorrie said the result surprised him. Across Sydney, Domain recorded a preliminary clearance rate of 45 per cent from 490 reported results, with 184 auctions withdrawn.
• In Como, a family upsizing bought a five-bedroom home for $3.14 million, while an Alexandria apartment sold for $1.31 million after being passed in.