A lazy $1.69m for this shed? They're not dreamin'

OWNING your own home may not be affordable for many in Australia, particularly those who live in the major cities.

The Glebe tin shed that went for $1.69m. Picture: LJ Hooker Glebe

OWNING your own home may not be affordable for many in Australia, particularly those who live in the major cities.

But what about owning your own shed? Nope, you can't afford that either.

A shed in Sydney has sold for $1.69 million after going to auction on the weekend.

LJ Hooker Glebe said the site had "incredible potential to create a personalised masterpiece".. Picture: LJ Hooker Glebe

Its sellers described it as a "unique offering", perhaps because real estate agents traditionally sell homes, not old sheds.

This one went to market with an approval so the 272sqm block in Glebe - one of Sydney's most sought-after suburbs - could quickly be converted into a two or three bedroom home with a car space.

LJ Hooker Glebe told news.com.au that it came down to a homebuyer, builder and a developer once the bidding began.

It was the homebuyer who ended up with the shed to call their own.

The agent selling the property told News Corp that prices has gone up "phenomenally" over the past two years in inner-city suburbs including Glebe.