A first home buyer couple paid $2.05 million for a three-bedroom terrace with updated interiors, beating an expat couple.

A local couple was attracted by high-quality finishes and off-street parking. They beat out one other bidder at Saturday’s auction to win the keys for $2.2 million.

The only registered bidder offered $2.3 million but it was not enough to secure a deal and the home will be made available for rent.