Wrecked home sells for $900k over reserve
It required nearly $1m in work but a rundown house defied expectation at a rainy auction with a price $900k above the vendor’s reserve and $2.87m above what she paid for it.
It required nearly $1m in work but a rundown house defied expectation at a rainy auction with a price $900k above the vendor’s reserve and $2.87m above what she paid for it.
Sydney’s housing market has become snared in an unprecedented home buying frenzy due to a widespread fear that’s driving home seekers to extreme lengths to get their slice of the Aussie dream.
Homeowners looking to cash in on the current market boom and get top dollar for their property should list early in the year – and there is a big reason why.
It offered the prospect of a waterfront location for a steal but the hopes of 14 bidders were blown away at auction when the unique home they wanted sold for nearly $420,000 above expectation.
A 1950s time warp house in the inner west has smashed records at auction after a whopping 33 bidders showed up, with the buyer paying a price described as “insane”.
Uninhabitable homes requiring expensive repairs have been selling for higher prices than some properties in better condition as a listings shortage puts the squeeze on buyers.
Property prices hit a record high nationally in January but not every suburb is booming, and prices actually dropped in some pockets, new research has revealed.
It’s set on a sand dune covered with shrubs but the sellers of a corrugated iron shack in a quiet NSW town want a truly staggering price – and this is why.
Homebuyers in parts of Sydney will now have to pay an average of $40,000-$60,000 more than buyers did last year due to runaway growth in prices. SEE WHERE PRICES ROSE THE MOST
It was another whirlwind month for the housing market and home values hit a record high, but it is a fundamentally different boom from any we’ve had in the past, experts revealed.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/107