The Sydney Morning Herald reported on June 29 that an old property in Sydney's Northern District was sold for $2.52 million, exceeding the reserve price of more than $500,000, and the buyer was a young family from Eastwood. In addition, a four-bedroom property in Hurstville, the Chinese suburb, was sold for $1.815 million, up $1.66 million from the last time the house changed hands.
According to the seller's children, the property was sold as a vacant lot in the mid-1950s and sold for £300. The two competed fiercely and the final sale price was $2.35 million, with the final buyer being a young family from Eastwood.
(Image source: The Sydney Morning Herald)
Auctioneer Michael Garofolo said: "This is a great result and there are not many cheaper options for people who want to buy a house here. ”
(Image source: The Sydney Morning Herald)
The median home price in North Ryde rose 6% to $2,332,500 to March this year, according to Domain data. In Hurstville, a four-bedroom property at 27 Edith St sold for $1.815 million, with a guide price of $1.75 million, attracting only two registered bidders, an investor and a pair of brothers, who managed to win the property.
(Image source: The Sydney Morning Herald)
Gengis Kokden of LJ Hooker Hurstville said sellers were happy with the results.
"We were expecting a little higher, but the sellers were already happy."
Records show the property was last transacted in 1992 for $155,000.
According to the 2021 Australian Census, Chinese residents in Hurstville account for 47.1% of the total local population, ranking first in the local population. /