Sydney house prices, particularly inner west house prices, are kind of nuts and have been for some time. There’s quite a bit of speculation that we’re in an extended bubble and quite a bit of alternative speculation that this is the new normal.
Evidence of the bonkers prices is a nearby recently sold 4 bedroom, 1 bathroom house which according to the listing is desperately in need of a complete overhaul (truth in real estate – novel!). This desperately-in-need-of-complete-overhaul-house sold for AUD 1,538,000. To give you some comparison this translates to GBP 891,606, USD 1,175,026, EUR 1,036,935. I don’t know how this compares to house prices where you live, but Yikes!
That intro is a round-about way of capturing the photos from the listing because I think they are (for serious) incredibly beautiful in that abandoned, urban decayed sort of way. Mad props to the (uncredited) Raine & Horne photographer!
This is what $1.5m gets you around here:
I’m pretty curious to see what becomes of it (unfortunately I suspect demolition and conversion to apartments).