The typical home bought in cash costs as much as $2.7 million in some sought-after pockets where buyers don’t need help from the bank.
In the inner city,it can be difficult to get a mortgage for some properties. But in others,buyers don’t even bother talking to a bank.
The buyers made sure the Indooroopilly house had a price containing plenty of figure 8s - the luckiest number in Chinese culture.
The house attracted three bidders at auction who had not been in the market but were interested in buying this particular property.
An owner builder who spent $2,445,000 last year on an inner-city home and gave it an extensive renovation attracted four bidders at auction.
Several Melbourne bayside suburbs,including one of the most prestigious,have recorded steep drops in the last three months.
Architects have come up with clever ways to live in terraces and small homes close to parks and playgrounds,and buyers are on board.
The winning bidders saw the ad for the five-bedroom property for the first time on Friday evening. Less than 24 hours later,the home was theirs.
Four downsizers from the suburb and surrounds registered to bid on the two-bedroom,two-bathroom home that last sold for $570,000 less than two decades ago.
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