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.
