Auburn studio sells for $150,000

A studio unit in Auburn was the most affordable auction sale in New South Wales over the past weekend, according to Australian Property Monitors.

Located at 333/95 Station Road, the unit sold for $150,000 through Richardson & Wrench Auburn.

Listing agent Nell Wu told Property Observer there were three registered bidders present.

The successful bidder was an owner-occupier.

The reserve price was set for “$140,000 to $150,000” according to Wu.

Prior to this sale, the unit was last sold in 2001 for $65,500, in 1997 for $67,000, and in 1993 for $64,500, according to RP Data records.

According to the latest RP Data report, the median price for units in Auburn is $342,680, up 10.5% on last year. The average discount required to sell a unit is 5.6%, while private treaty sales average 81 days on market.

The median asking rent for units is $390, while gross rental yield currently stands at 5.9%.