Architecture and Design Obsession
Tiny Annandale unit sells to investor for $330k
The unit block in Annandale.
ONE of the inner west’s cheapest properties has found a buyer over the weekend, selling under the hammer for $330,000.
It was one of 546 properties to go under the hammer on Saturday, with Sydney recording a preliminary clearance of 51.92 per cent, just over 4 per cent lower than the previous Saturday.
No Sydney regions achieved a clearance rate over 70 per cent this week, according to CoreLogic data, with the inner west the highest at 65.71 per cent.
The usually reliant eastern suburbs sat at 59.04 per cent, while the northern beaches was even lower at 53.06 per cent.
Plenty of room to cook in this 28sqm studio.
The studio apartment at 1/54 Johnston St in Annandale attracted three registered bidders as bidding started at $300,000 and increased in increments of $10,000, $5,000 and $2,000. In the end smaller bids of just $500 were accepted to get the sale over the line.
● FAMILY PAY $2.065M AS BUYERS FEEL THE HEAT
● UNIT SELLS $240K OVER RESERVE AT ‘FRANTIC’ AUCTION
It is easily one of the cheapest properties to sell in the inner west, with an investor from Malabar paying $15,000 more than reserve to secure it.
It had just 28sqm of space and last changed hands in July 2009 for $193,000.
It was sold by Robert Clarke and Michael Hallit of Belle Property Annandale.
“This was a great entry level buying opportunity for a coveted suburb — this property was popular mostly for its value and strong rental appeal,” Mr Hallit said.
This Camperdown unit sold for $790,000.
Another apartment in Camperdown also sold on Saturday, as first home buyers from Parramatta paid $790,000 to secure it.
It was a battle between just two registered bidders at 4/10 Pyrmont Bridge Rd, with the 101sqm unit selling right on reserve.
Maria Magrin and Paul Caradonna of Belle Property Annandale were the selling agents.
