First Home Buyer Gets $40,000 Discount on Art Deco Potts Point Pad The preliminary auction clearance rate in Sydney has shown signs of life, rising to 57% from last week's results.
However, behind this modest uptick lies a more nuanced story – one of vendors adjusting their expectations and buyers taking advantage of softer market conditions. In Potts Point, an art deco apartment sold for $1.
46 million at auction, $40,000 below its initial guide price. The winning bidder was a first home buyer with parental support who took advantage of the vendor's flexibility to adjust on the day.