Shalvey $299,000 brick veneer the cheapest Sydney weekend auction house sale

Subdued Blacktown price growth was evident at the weekend’s cheapest auction sale at Shalvey, according to Australian Property Monitors.

Sold for $299,000, the three bedroom brick veneer house sits on a 615 square metre block. It was a mortgagee sale through Robert Henry at Robert Henry Statewide Realty who told Property Observcer there were seven registered parties. It sold to a first time investor who might expect $350 a week, reflecting around a 6% yield. 

The median price for Shalvey house sales is $285,000 which has increased by 9.6% over the past year, according to statistical analysis of sales by RP Data.

But this house at 3 Over Place had been purchased two years ago for $290,000 representing an annual appreciation of just 2% over the 20 month interim.

Its 2011 sale reflected 0.46% annual growth over the period sales period as it had sold previously for $280,000 in 2004.

Shalvey, in Sydney’s west, was named last year by RP Data as possessing one the city’s top 10 for rental yields.