Over the weekend a new record was shattered as the most expensive house was sold at an auction in 10 Noller Parade, Parramatta. The three bedroom, one bath, double brick house was sold at a staggering $1,319,000, breaking the previous record which was at $900,000, according to the Australian Property Monitors.

The starting bid for the property was around the $900,000s, when a developer offered $1.050 million that started it all. Several bids by as much as $40,000 were made until finally a $1,000 bid was made at the last second to secure the deal. Parramatta homes have an average price of $528,000 as compared to the previous year of $390,000.

Read more about this on the Sydney Morning Herald website.

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Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.