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Luxury dwellings to go to auction

A number of luxury dwellings are to be auctioned off in Sydney next week, people thinking about investing in property in Australia may be interested to learn.

A number of high-end dwellings are to go to auction next week, those hoping to invest in luxury property in Australia may be interested to learn.

Real estate agency Ray White is holding the auction at the iconic Sydney Opera House on Monday (November 8th), the Australian newspaper reports.

Ten of the 11 houses going on sale are located in New South Wales and the remaining one is in Queensland.

The firm hopes that the invited bidders, the majority of whom are from Asia, will come to the famous venue and snap up the properties.

It is predicted that some of the dwellings will sell for as much as $10 million (£6.2 million).

Farmer Paul Morton told the newspaper that "property has been a real good investment" for him over the years.

Last week, the Australian newspaper reported that two mansions on the Sovereign Islands in the Gold Coast area were going to auction - the Bellagio waterfront mansion, located at 26 Hampton Court - and a Tuscan-style home at 5 Sir Lancelot Close.

Posted by Craig Francis 

- auction, property, Sydney, Brisbane, sales, prices

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