Investors miss out in Rooty Hill auction battle

Investors miss out in Rooty Hill auction battle
Jonathan ChancellorDecember 7, 2020

A three bedroom Rooty Hill cottage, one for the avid gardener, was Sydney's cheapest weekend auction sale.

There were 12 registered parties at the auction, with estate agent Caroline Gray at Tesoriero Real Estate Rooty Hill estimating that 10 got to make a bid before its $401,000 sale.

As an investment opportunity, the property had the potential to earn a weekly return of $380 to $390 per week, so if it did sell to an investor it reflected a 5% yield.

Three quarters of those interested were investors, but it sold to a first time buyer.

The home is set on a 252 square metre block of land.

 

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.
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