Labor group spends big on former PM’s home
A rundown house in Western Sydney once owned by former Prime Minister Gough Whitlam has sold to a group of ALP elders with big plans for the site.
A rundown house in Western Sydney once owned by former Prime Minister Gough Whitlam has sold to a group of ALP elders with big plans for the site.
Home prices are surging and sellers are calling the shots in most of Sydney’s housing market but there are still areas where buyers have the upper hand. SEE THE TOP BUYER’S MARKETS
He’s just signed the paperwork on his sixth property in five months but a 34-year-old firefighter is on track to buy plenty more after chancing on a clever way to get homes for cheap.
Buying at auction has become a nightmare for home seekers as pent up demand, low rates and a severe listing shortage produce auction conditions agents say they have never seen before.
It opened with a bid of just $1 but a crowd of bidders was left “in awe” at the auction for a junk-filled hoarder house without a reserve price after things took a surprise turn.
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”.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/96