Blackett home sells for Sydney's cheapest weekend auction

Blackett home sells for Sydney's cheapest weekend auction
Blackett home sells for Sydney's cheapest weekend auction

The cheapest weekend sale was in Blackett in Sydney’s west when $410,000 was paid for a redundant NSW Housing Department residence.

The three-bedroom Franklin Cres home sold through LJ Hooker Mount Druitt agent Deniz Sagin to an investor renovator. The home sits on a 645 sqm block with granny flat potential.

Mr Sagin advised post-renovation it could attract $380 a week rental, reflecting a 4.8 per cent rental yield before costs.

The suburb’s median price is $450,000, according to realestate.com.au, still well below its $545,000 boomtime 2017 median.

The next cheapest was $462,000 for a three-bedroom Tregear home, just 3km away.

The third cheapest sale was at Bondi Beach, snapped up pre-auction at $535,000. The one bedroom flat, last sold in 2008 at $235,000, was recently a $400-a-week rental, thereby reflecting a 3.9 per cent rental yield.

This article was first published in the Daily Telegraph.  

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Residential Sales Blackett

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