Father buys daughter $6.95million house in North Bondi in Sydney’s affluent eastern suburbs
A generous father has gifted his daughter a $6.95 million luxury home in one of Australia’s most expensive suburbs.
The three-storey property on Bonus Street in North Bondi, in Sydney’s affluent eastern suburbs, was auctioned on Saturday.
The Darling Point resident made the winning bid on the four-bedroom home, which went under the hammer for just under the reserve price of $7 million.
He held off stiff competition from a family who moved to Australia after bidding opened at $6.7 million.
Despite having secured the coveted house, he plans to hand over the keys to the property to his daughter.
The woman and her family of four want to make the most of the custom-built home office and separate living spaces.
Alexander Phillips of real estate agency PPD Real Estate said Domain the property was ‘not a bad gift’.
He added that the winning buyers were attracted by the bespoke office spaces and larger living rooms.
The Darling Point man made the winning bid on the four-bedroom home (pictured), which had a reserve price of $7 million
The large living areas were a big selling point for the successful bidder, who will hand over the keys to his daughter
The property also features three bathrooms, a home theater in the basement, a media room, and space for two cars. The property sits on a 327 square meter plot.
Situated in a quiet cul-de-sac, the spacious property also features an outdoor dining area with a built-in BBQ and views of the pool, where you can entertain your guests.
The property, which was originally built in 1930, last sold in 2007 for $1.48 million, according to property records.
The house was one of 912 auctions scheduled for Saturday in Sydney.
The average price for a house in Sydney currently stands at $1,429,000, after prices rose slightly by 0.3 per cent in August, according to figures from Prop Track.
The house (pictured) also has three bathrooms and space for two cars, while the property sits on a plot of 327 square metres
The average value of homes in the harbour city currently stands at $819,000, leaving Sydney as the most expensive place in Australia to buy a home.
There has been little relief for homeowners after the Reserve Bank left interest rates unchanged at 4.35 percent for the seventh time in a row, citing persistent inflation.
The consumer price index rose 3.8 percent in the year to June, still above the Reserve Bank’s target of 2 to 3 percent.