An inner-west deceased estate made its owners a $400,000 gain in just seven months, a staggering result that encapsulated the auction market’s turnaround this year.
The almost untouched three-bedroom home in original condition at 60 Percival Road in Stanmore was snapped up for $1.25 million in May this year, with the successful buyers intending to renovate it into a “forever home”.
But seven months later, after a change in their plans and a remarkable surge in prices, it became irresistible to test out the market, with the home fetching $1.65 million after auction.
It was one of 806 auctions on Saturday.
https://www.domain.com.au/news/sydney-auctions-owners-sell-stanmore-house-for-a-400000-gain-just-seven-months-after-buying-916603/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos5&ref=pos1
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