St Marys house sells for record price

Mt Druitt - St Mary's Standard (East) - - NEWS - Azal Khan

A ST MARYS prop­erty has sold for a record $1,230,000 – more than dou­ble the me­dian house price for the area.

The five-bed­room house at 156 Ade­laide St smashed the pre­vi­ous record and is the high­est price ever paid for a 1267sq m block of land in St Marys, ac­cord­ing to sell­ing agent Peter Dia­man­tidis, the sales man­ager at Raine & Horne St Marys.

“The pre­vi­ous record es­tab­lished last year was $1,120,000, and this was for a big­ger lot of 1410sq m,” Mr Dia­man­tidis said.

“The re­sult also il­lus­trates that the prop­erty mar­ket in our small patch of western Syd­ney is at least as hot as the mar­ket highs recorded back in the win­ter of 2015.

“It might even be stronger.”

The prop­erty last sold in Novem­ber 2000 for $280,000.

This time the house sold within two days un­der an “ex­pres­sions of in­ter­est” cam­paign and was not ad­ver­tised on­line.

“We have big data­base of own­ers and sellers,” Mr Dia­man­tidis said.

“We is­sued 23 con­tracts and had a lot of of­fers on the ta­ble with five or six gen­uine buy­ers vy­ing for the home.”

The prop­erty is zoned R3 which al­lows for medium den­sity town­house de­vel­op­ment. Mr Dia­man­tidis said this was a key draw­card for the buy­ers, who are a group of three in­vestors in a part­ner­ship.

They plan to rent out the house with plans for de­vel­op­ment in the fu­ture.

“With an air­port and the mas­sive in­vest­ment in in­fra­struc­ture, the growth prospects for prop­er­ties like this over the next decade will be sig­nif­i­cant,” Mr Dia­man­tidis said.

156 Ade­laide St, St Marys.

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