Meanwhile, Sydney still kicking along. Unrenovated 38sq block terrace in Surry Hills sells for $965000 or $25384 per sqm
Skinny Surry Hills house sells for $965,000 at auction
Date
May 23, 2015 - 7:25PM
Antony Lawes, Camille Bianchi, Toby Johnstone
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The skinny on Surry Hills
One of Sydney's thinnest abodes, there was nothing small about the price.
A terrace in Surry Hills that is only slightly wider than a queen-sized bed fetched almost $1 million auction on Saturday.
It was one of 750 properties scheduled to go under the hammer in Sydney on Saturday.
By Saturday evening Domain had collected 608 results and put the clearance rate at 84.2 per cent, slightly below last week's 84.4 per cent.
A two-bedroom Surry Hills terrace on 38 square metres sold for almost $1 million at auction on Saturday. Photo: Fiona Morris
Domain Group senior economist Andrew Wilson said while it was a strong clearance rate, it was the lowest result since Easter.
"We may be tracking down a little bit towards a more sane market," he said.
The two-bedroom house, which measures 2.85 metres wide and is on a 38-square-metre block in Terry Street, sold for $965,000.
The winning bidder was buyer's agent Raymond Hung who was on the phone to a client in China. Photo: Cole Bennetts
While this is well below the suburb's median house price of about $1.5 million, the sale works out at $25,395 a square metre, which would make it more expensive than many larger houses in more prestige suburbs.
A house on 302 square metres in Holdsworth Street, Woollahra, sold last weekend for $3.75 million, which is just $12,417 a square metre.
The opening bid for the small home was $650,000 but competitive bidding from three keen parties saw the price surge.
The Surry Hills home was in a rundown state and only slightly wider than a queen-sized bed.
Some members of the crowd were shaking their heads, while others were laughing as the bids kept coming in.
The winning bidder was buyer's agent Raymond Hung, who was bidding on behalf of a client in China.
The pint-sized terrace certainly packs a lot into those 38 square metres. Two bedrooms are squeezed in upstairs, while on the ground floor are separate dining and living rooms, a small galley kitchen and a combined bathroom and laundry.
Some members of the crowd were shaking their heads, while others were laughing as the bids kept coming in.
The winning bidder was buyer's agent Raymond Hung, who was bidding on behalf of a client in China.
The pint-sized terrace certainly packs a lot into those 38 square metres. Two bedrooms are squeezed in upstairs, while on the ground floor are separate dining and living rooms, a small galley kitchen and a combined bathroom and laundry.
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