Sydney Opera House Luxury-Home Auction Misses Target
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An auction of Australian luxury homes held at the Sydney Opera House raised A$4.1 million ($4.1 million), less than the A$30 million of properties that were put up for sale, less than a week after borrowing costs increased.
Only two out of the 11 homes on offer were sold. The Ray White Group, which organized the auction today, is in talks with potential buyers and expects to sell three more properties in “the next couple of days,” Chairman Brian White said in an interview after the event.