Home owners beat out investors in Prestons, Sydney mortgagee auction
Jonathan ChancellorDecember 7, 2020
A Prestons home in Sydney's south-west sold at weekend auction for $600,000.
The mortgagee sale of a three bedroom home in a quiet cul de sac had 11 registered bidders comprising of 50/50 split of first home buyers and investors.
"The bidding opened at $400,000 seeing seven parties taking part in the bidding," Rocky Bartolotto from Auction Services said.
It was sold to a couple with two children outbid the investors in the listing through Vince Labbozzetta at Raine & Horne Liverpool.
3 Huskisson Street, Prestons fetched $60,000 over reserve. The 1997 built brick home last sold in 2004 at $360,000.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
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