The local developer,who swooped in at the last minute to place the winning bid,said it was a good opportunity to revitalise the area.
Home buying hopefuls will find the cheapest options close to the city centre in a string of southern and inner west suburbs.
Thanks to higher interest rates and more homes on the market,buyers have increased choice this spring – and it’s showing.
When the tenant was issued with an eviction notice,he hoped to use it as a chance to spark debate about tenants’ rights. What followed was a media maelstrom.
The average NSW home value hit $1.22 million in June,with Victoria the only state where values went backwards.
Downsizers won the keys to a Lane Cove five-bedder with a studio,set in a private location next to bushland yet close to the city.
Interest in the campaign was mostly from first time buyers and eight parties registered to bid,but a late auction entrant changed the game.
Properties are selling rapidly in trendy and affordable pockets of Sydney,defying a broader slowdown in which many homes are taking longer to sell.
In the race to build 377,000 new homes in NSW over the next five years,Sydney Water is sometimes cast as the secret villain in the piece.
Melbourne property values fell while Sydney’s rose less than inflation,according to fresh data,as the Greens push for a new renters’ advocate and the Liberals threaten to make housing a condition of federal funding.
Two local families competed for the keys for the designer residence that boasts a pool,butler’s pantry and top-floor master suite.