A young buyer has landed a one-bedroom art deco apartment in Coogee for $1,195,000, with the help of his parents as competition pushed bidding from six registered parties.
Family support at auction
The sale, held in late August, highlighted the enduring role of parental assistance in Sydney’s property market. The one-bedroom unit at 2/125 Mount Street, Coogee drew strong local interest before ultimately being secured by a young man whose purchase was bolstered by his family.
Market context in Coogee
Six bidders registered for the auction, reflecting the tight competition in Sydney’s eastern suburbs. The apartment, part of a classic art deco block, is typical of the style that continues to attract buyers looking for character homes close to the beach.
While the final hammer price placed the property just under $1.2 million, the key factor was not just market demand but the support of parents stepping in to make the purchase possible.
The deal underscored the continuing trend of younger Australians leaning on the so-called “bank of mum and dad” to break into one of the nation’s most expensive property markets.
Community impact
For residents of Coogee, stories like this are becoming increasingly familiar. With rising property values, parental help remains a defining feature of many first-time purchases in the area.
The sale of the Mount Street apartment shows how family backing continues to play a central role in keeping younger generations rooted in the community despite soaring housing costs.
Published 8-Sept-2025
