The "circa" $3m sale that shows first home buyers are back

The property: A 3 bedroom, one bathroom original bungalow at 25 Titania Street, Randwick. Sold prior to auction for "circa" $3 million.

Who was the agent/agency?

Haynes Wileman, PPD Real Estate.

How long was this on the market?

Twelve days.

Was it overpriced?

Not in the market at the moment. If I’d got $3 million for it last August, I would have said most definitely, but in the market now it’s about right.

What is buyer sentiment like at the moment?

It has completely changed. 6 months ago buyers were waiting for better properties to hit the market & afraid to make a decision on a property.

This year I have seen buyers being on the front foot and eager to make a purchase. At the end of last year there was a lot of fatigue with buyers with majority of the buyers clocking off from November.

Do you reckon we’ll see another result like this next week?

Yes, there are enough buyers around.