Auburn, NSW mortgagee house sold for $200,000 below initial listing

An Auburn, NSW mortgagee house has sold for $199,000 below the initial asking price of $670,000 - $720,000. 

The home which sold March 12 2019 for $521,000, remained on market almost 500 days, through two unsuccessful auctions and four price cuts.

After failing to sell at auction the initial asking price was cut to just $670,000 then $635,000 in July of 2018.

Following another unsuccessful auction in December 2018 the price guide was reduced to $550,000, then $529,00 in January 2019.

Themy Panagiotidis of LJ Hooker held the listing when the property was successfully transacted.

Situated at 1/52 Beaumont Street, the property is a three bedroom two bathroom house.

Set on 261 sqm the home is located near the Auburn Tennis Club, Rosnay Golf Course, Auburn West primary school and local parklands.

The median price for a home in Auburn, NSW is $875,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.9%.