‘Didn’t think this’: old fibro house sells for $4m
An old fibro home has changed hands at auction for a price that left a crowd of about 150 onlookers clapping with applause but the new owner claims he doesn’t even want the house.
An old fibro home has changed hands at auction for a price that left a crowd of about 150 onlookers clapping with applause but the new owner claims he doesn’t even want the house.
Analysis of three decades of housing data has revealed just how much prices grew from 1990-2020 and how the market created unprecedented family wealth – especially for the rich.
Australia’s richest people in 2021 have been revealed – and sales records have also shown the glamorous mansions they call home.
Property has been delivering average earnings of $110,000 a year in some regions of Sydney following an unexpected boom in house prices. SEE WHICH AREAS TOPPED THE LIST
Agents were left in shock after a humble red brick house out sold nearby mansions and smashed price expectations by nearly $3m.
A decade ago there were just two western Sydney suburbs which boasted a seven-figure median property price — now there are 53.
Fifty bidders arrived in the pouring rain for the auction of a two-bedroom Sydney house and the buyer paid $1m over the reserve – just to bulldoze the home.
An uninhabitable inner Sydney terrace with holes in the floor, crumbling walls and torn ceilings has sold at an auction the agent described as “insane”.
It is still possible to get houses for under $500,000 in parts of Sydney but our cheapest listings also reveal a harsh reality about life in Australia’s largest city.
A couple with 32 properties worth $22m, first bought with cash saved when they worked at bars, reveal the ‘light bulb’ moment that’s led them to netting $1m a year in rent.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/103