Brief
First‑home buyer pays $975,000 for Alexandria apartment amid cautious market
The sale highlights buyer wariness after the Reserve Bank’s latest interest‑rate increase.
By Felo News Desk · Published
A first‑home buyer moving to Sydney from Newcastle secured a two‑bedroom, 95‑square‑metre apartment at 68 McEvoy Street, Alexandria, for $975,000 at an auction on Saturday, according to the Sydney Morning Herald.
What happened
Three parties registered to bid. The auction opened at $850,000, with increments of $10,000 and $5,000 before the hammer fell at the adjusted reserve of $975,000. The property had a $900,000 guide price and includes a north‑facing balcony, open‑plan kitchen, built‑in laundry and a car space.
What the report adds
Sales agent Moira Verheijen of Ray White Erskineville said the recent interest‑rate rise has made buyers more cautious, but some still see opportunities. She noted that buyers who wait may miss quality homes.
What was said
Verheijen told the Herald, “Interest rates have definitely had an impact… there are buyers who understand that if they see the right house, now is the time to buy.”
How it came about
The unit was one of 216 properties slated for auction in Sydney that week. Earlier this month, Felo News reported a slowdown in Sydney’s auction clearance rate and a dip in home values, underscoring the market’s sensitivity to monetary policy.
Key facts
- The Alexandria apartment sold for $975,000 at auction. (smh.com.au)
- Three parties registered to bid; the auction opened at $850,000. (smh.com.au)
- The property is 95 sqm, includes a north‑facing balcony and a car space. (smh.com.au)
- Ray White agent Moira Verheijen said interest‑rate hikes have increased buyer caution. (smh.com.au)
Sources
- [1] smh.com.au — originally reported as “Sydney property auctions: Alexandria apartment sells for $975,000 as interest rate caution persists”
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