Newtown terrace more than doubles in value in less than 10 years

A THREE-BEDROOM terrace in Sydney’s inner west has sold under the hammer for $1.796 million.

A NEWTOWN terrace that sold under the hammer for $1.796 million has more than doubled in value in less than 10 years.

The vendors, who have since renovated, bought the property at 190 Australia St in 2007 for just $820,000.

The home was listed with Shaun Stoker and Ercan Ersan of Ray White Erskineville, who issued 10 contracts prior to the auction.

“It was an exciting auction with seven registrations that went up in $50,000 increments to $1.7 million, then went to $10,000 increments,$1,000 increments, $500, $250 and then a bid of $750 won the sale of the property,” Mr Stoker said.

“The best selling feature of this property is the location on Australia St, with a back gate that opens to a gorgeous park in Newtown.

Originally published as Newtown terrace more than doubles in value in less than 10 years