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House prices in Sydney are becoming obscene.

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ram01

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11/07/22

19:06

Post #: 62481726
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Originally posted by NoBoDe: ↑

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Why a buyer paid $4.million for a this tiny
red-brick home in Cabarita, Sydney

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A tiny red-brick home has sold for almost $500,000 above the reserve price, and there is a lot more money to be spent on the property yet.
After spending $4.72 million for the three-bedroom house with water views on Saturday, the new owner plans to knock it down and rebuild.
The 399sqm block was on the market for the first time in almost 60 years, and back then Australia didn't even use dollars - it sold for £6,500.
Three bidders kept pushing the price for the house in the suburb of Cabarita in Sydney's inner west up until it was way beyond its $4.25 million reserve.
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House prices in Sydney are becoming obscene.
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