Garage Wars in Sydney's Housing Market The recent auction of a three bedroom art deco apartment in Waverley has highlighted the premium placed on parking in Sydney's housing market. A neighbor paid $1.
68 million to secure ownership of half the building, beating out five first home buyers who were also vying for the property.
Garage access was the key factor in this sale, with the buyer willing to pay a significant amount above the reserve price to secure it. This anomaly has been observed in other auctions as well.