Leichhardt sale brings in twice the price

Posted by on March 8, 2016 in Market Reports | 0 comments

Leichhardt sale brings in twice the price
悉尼房地产 内西区

80 Edith St, Leichhardt

A formerly dilapidated house in Leichhardt has more than doubled its value in two years.

The four-bedroom home at 80 Edith St, Leichhardt, fetched $2.132 million at auction.

When the vendors bought the 278sq m property two years ago, they paid just $980,000.

悉尼房地产 内西区

Before the house was upgraded.

The two-storey home attracted 100 groups at inspections with 10 contracts issued and seven registrations at the auction.

Bidding opened at the price guide of $1.9 million with four buyers actively competing.

“More than 50 per cent of the registered bidders were young families. The majority of people coming through were professionals or those with young children,” Danielle Dewhurst from McGrath Leichhardt said.

She added that homes of this size were rare in Leichhardt.

“I think it’s very difficult to find a house in Leichhardt that offers what this house did – four bedrooms, three bathrooms, off-street parking, a pool and not a cent to be spent,” she said.

STAR PERFORMER

MORE than 200 people turned out to watch seven buyers compete for a five-bedroom Victorian terrace at 137 Edwin St, Croydon.

悉尼房地产 内西区

137 Edwin Street, Croydon

Bidding opened strongly at $1.9 million and rose in $20,000 and $10,000 increments.

It sold under the hammer for $2.51 million, smashing the vendor’s reserve by $330,000. The buyer was a local couple.

Matthew Everingham from Richard Matthews Real Estate had 260 groups attend the open-for-inspections and issued 11 contracts.

“The Croydon market, in general, is a very strong market and probably the star performer in the local area,” Mr Everingham said.

Croydon’s median house price is $1.42 million, according to CoreLogic RP Data.

Mr Everingham also sold a four-bedroom home at 24 Pemberton St, Strathfield, for $1.95 million.

NEST FOUND

IN ASHFIELD, a three-bedroom home at 38 Lucy St sold to a family for $1.59 million.

悉尼房地产 内西区

38 Lucy St, Ashfield

Three of the four registered bidders were active at the auction which opened at $1.45 million.

The home was inspected by 61 groups and five contracts were issued by Gavin Sanna from Elders Inner West Ashfield.

“Feedback was coming in around $1.4 million at the very low end and about $1.5 million,” Mr Sanna said.

KEEN BUYERS

A YOUNG family snapped up a four-bedroom Victorian terrace at 217 Denison St, Newtown, for $2.95 million before it hit the market.

The property, owned by former Marrickville mayor Mark Gardiner and his wife Nicole Binnett was sold by Charles Bailey from Urbane Property.

Mr Bailey said the property was sold for $350,000 above the appraised price.

 

Published: March 8, 2016

By: Brendan Wong

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