The three-bedroom property with dual access had been held in the same family for three generations. Despite its unliveable condition,14 buyers registered to bid.
He launched a vodka label thanks to help from Robert De Niro and financial backing from James Packer. Later,he tried his luck in the property market.
Affordability constraints are testing buyers’ limits,even at the upper end of the market,and the steepest drops are taking place in desirable areas.
The three-bedroom home,which was on the market for the first time since 1991,attracted half a dozen buyers as the property type is rare to find in the suburb.
The Hollywood A-lister has toyed with the idea of selling over the years,but at that price,wouldn’t you open the door to buyers?
Sydney’s auction clearance rate has slipped below a key level as the market weakens,and some areas look like a buyer’s market.
High interest rates and rising prices have pushed key measures of housing affordability to their worst levels on record,and experts say rate cuts won’t help.
The typical home bought in cash costs as much as $2.7 million in some sought-after pockets where buyers don’t need help from the bank.
An owner builder who spent $2,445,000 last year on an inner-city home and gave it an extensive renovation attracted four bidders at auction.
Sydney would be unstoppable if it could fix the cost of housing,the tyranny of distance and its obsession with rules and restrictions. We are let down by leaders who say the right things but act timidly.
Architects have come up with clever ways to live in terraces and small homes close to parks and playgrounds,and buyers are on board.