By Kate Creedon | 9 News | February 8, 2025
9 News was on the scene of the auction at 57 Gerard Street in Sydney's Alexandria which sold under the hammer for $3.17 million, well above the $2.7 million reserve.
Brought to the market by The Agency's Brad Gillespie, the rare three-bedroom freestanding home features a modern Scandanavian style renovation with a convenient location close to amenities.
Fuelled by a 'fear of missing out' and buoyed by falling inflation, auctioneer Damian Cooley reported strong buyer activity at the weekend driven by predicted interest rate cuts by the Reserve Bank this year.
"Many buyers want to get in before they cut. They feel that once interest rates get cut once, twice, possibly three or four times, that the market might start to heat up," Mr Cooley said.
Watch the full video HERE.
