Sunrise sports reporter Mark Beretta is selling his Mosman home and has been forced to knock $1.75 million off the asking price.
The rebuilt double-brick five-bedroom, three-bathroom, four-car home was listed for sale in February with a $15.5 million price guide.
However, according to The Daily Telegraph, Beretta has been forced to lower its asking price to $13.75 million, with the property still appearing for sale on realestate.com.au following its scheduled auction on Wednesday night.
Beretta and his wife Rachel initially bought the property for $6.025 million and have spent more than $900,000 on its renovation.
The home offers spectacular views of the harbour and beyond and is just a stroll to Balmoral Beach and Mosman Village.
Other features include a marble induction kitchen, an entertainers’ terrace overlooking lawns and mineral pool, and an outdoor spa and Swedish sauna.
The average price of houses in Mosman is currently $4.8 million, according to realestate.com.au data, based on the 177 properties sold in the last 12 months. This is down 7.5 per cent annually.
Despite this, in the December quarter all sellers made a profit in the affluent suburb. According to CoreLogic, Mosman was just one of two Sydney local government areas that made a profit on all sales, with an average gain of $436,000.
In February, home prices dropped 0.14 per cent, CoreLogic found - the smallest monthly fall since May 2022 when the Reserve Bank’s interest rate hikes began.
Surprisingly, Sydney bucked the trend and rose 0.3 per cent in February, to a median price of more than $1 million.