A vendor wanting to sell a 32-year-old home didn’t want the time and cost risks of construction. But a quick touch-up gave a big lift in looks – and price.
There’s an end in sight to the cycle of increases that has thrown the east coast-dominated housing market into decline. But it’s not making investors rush back.
To sell an inner-city Sydney apartment today requires frank conversations with vendors, and a clear price guide for buyers. This one sold for $150,000 less than five years ago.
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We speak to the team behind the weekend’s most intriguing property sale.
The property: A one-bedroom, one-bathroom apartment at 68/48 Alfred Street, Milsons Point, NSW. Sold before auction for $925,000.
Who was the agent/agency? Todd Houghton, Duncan Grady, Raine & Horne North Sydney.
How long was this on the market? [Grady] Two-and-a-half weeks.
The one-bedroom apartment at 68/48 Alfred Street, Milsons Point, NSW, sold for $925,000.
Why did this one sell? [Houghton] The clients buying this were people from out of the area, wanting to secure something close to Sydney. They bought it for their daughter to live in longer-term.
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Was it overpriced?