Auburn three bedroom apartment sells to investor in weekend's cheapest auction offering

Auburn three bedroom apartment sells to investor in weekend's cheapest auction offering
Auburn three bedroom apartment sells to investor in weekend's cheapest auction offering

Sydney's cheapest long weekend sale was $348,000 at Auburn.

It sold pre-auction, as did many of the weekend offerings.

As soon as it was sold by First National Auburn Waters & Carpenter, the investor buyer put the three bedroom 88 Station Road apartment for lease pending its settlement.

Seeking $400 a week, the sale thereby reflects a 5.9% rental yield. It last sold at $230,000 in 2005.

Sydney agents secured 73.7% success rate from the initial 300 results. There are another 93 results yet to be tabulated by Australian Property Monitors.

Leichhardt has a new suburb record with the current record-holder home selling on the long weekend for $3.05 million.

Set on 658 square metres, the four-bedroom, four-bathroom home sold through Ray White Inner West's David Eastway. With that much land it is about three times bigger than the typical Leichhardt block.

It was sold by the banker Ashley Salter and his wife, Paspaley Pearls creative director, Christine Salter.

{qtube vid:=ZXtDXy8QCE}

The former Victorian fire station had been renovated by French antique furniture importers Bob and Helen Hargreaves, of Le Forge, who sold in 2007 for a record $2.45 million through McGrath.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
Auctions Sydney

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?