Narrow Surry Hills terrace fetches $965,000
A narrow 1870s Sydney terrace fetched $965,000 at auction this afternoon, with its price reflecting recent 20% boomtime price growth.
It was a 2.85 metre wide terrace on Terry Street, Surry Hills. The winning bidder was the buyer's agent Raymond Hung bidding on behalf of his client in China.
It has been billed as possibly Sydney's skinniest terrace, located near Central Station between Foveaux Street and Kippax Street.
The Spencer & Servi sale was of a two bedroom, one bathroom, two storey terrace on a 38 square metre block.
First National Spencer & Servi’s selling agent Annie Hodgson, who had issued more than six contracts, was quoting $750,000 plus.
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It had 48 square metre space.
The property was last sold in March 1981 for $54,000, reflecting 8.75% annual growth over the 34 years.
A renovated 38 square metre terrace three doors away sold at $633,000 in May two years ago, so the annual price growth sits at around 22% over the past two years.
