The winning bidder at a mansion auction got down on one knee after spending $8.5 million to buy the most expensive house in Sydney which sold over the weekend.
The French-inspired five-bedroom home at 28 Joubert Street Hunters Hill, in Sydney's northwest, sold after 26 bids on Saturday.
But the sale of the sandstone home — which fetched $2 million above the buyer's guide after 26 bids — wasn't the only thing attendees celebrated.
Seconds after winning the auction, the male buyer dropped to one knee and proposed to his partner in the backyard of their future home.
Overcome with emotion and still in the grip of the auction paddle, she said yes, drawing applause from those in attendance.
The auction of a mansion in Sydney's Hunters Hill (pictured) provided the backdrop for a shocking proposal after a bidder dropped the knee shortly after winning the property
“Everyone was shocked, no one knew about it,” Bresic Whitney sales agent Nicholas McEvoy told Ny Breaking Australia.
“He got down on his knee and of course she said yes… everyone was clearly clapping with joy.”
Mr McEvoy said downsizing sellers were “ecstatic” to see the $2 million price increase above the buyer's guide, even more than optimistic estimates.
“The guide cost $6.5 million and we told visitors the price could be anywhere between $7.15 million,” he said.
“Nobody believed it would be as big as it was that day.”
The property was first built in the 1850s for Hunters Hill's first mayor, Didier Joubert, after whom the street is named.
The five-bedroom, three-bathroom, two-parking home overlooking the Lane Cove River plus a sandstone granny flat last sold in April 1996 for just over $1 million.
BresicWhitney's website describes the property as 'a beautiful French-inspired home…. (Where) a majestic entrance staircase leads to this classic, elevated house with a slate roof, precise stonework and immense verandas, perfect for entertaining'.
Despite being overcome with emotion and still holding the auction paddle, she said yes, prompting massive applause from the auction attendees (stock image)
The couple bought the five-bedroom sandstone mansion for $8.5 million on Saturday, making it the most expensive property sold in Sydney this weekend.
While the couple will cherish both this moment and their new home, Australians without access to such funds are struggling to enter the market.
Despite house price growth easing in November, the average property price in Australia rose to a record high of $753,654.
To pay off the average Australian property without spending more than 30 per cent of a salary, the threshold for mortgage stress, a buyer would need a salary of about $150,000 – much more than the average salary of $92,000.
While those looking to purchase a home are being priced out, rising mortgage rates are also pushing buyers over the mortgage stress threshold.
Research from Finder, published in November, found that the average mortgage payment was just above $3,600 in November, compared to around $2,300 in April 2022.
“Aussies with a $590,000 mortgage will now spend around $1,345 more per month than in April last year,” said Graham Cooke, head of consumer research at Finder.
“That's a huge amount of extra money to spend on your mortgage, especially when the cost of almost everything else is also rising.”
The selling agent, Nicholas McEvoy (pictured), said 'everyone was shocked' by the proposal, even after the property sold for $2 million more than stated in the buyer's guide.