The Gazebo Effect: A New Era for First Time Buyers? A recent auction in Sydney's north shore has left many perplexed by a first home buyer paying $2.
33 million for a modest three bedroom house, pushing the price above the reserve despite the sluggish market. This anomaly is actually a symptom of a broader trend unfolding in Australia's property market.
The Roseville house, with its enclosed gazebo and views to Chatswood, may have seemed like a bargain for some buyers, but it's clear that the vendor was confident in their asking price.