Young couple take a long view
AN investor couple in their 20s paid $825,000 — $155,000 above reserve — for a one-bedroom unit in North Sydney yesterday.
“The current rent is only about $500 a week but they can see the future,” Belle Property Strathfield agent Norman So said.
“They want to move in one day and turn it into a harbourside pad.”
The one-bedroom 1970s unit, a “blank canvas” in original condition at 52/106 High St, has a carpark but the Harbour view was the big draw.
In Epping, an investor beat young families to win the day for a four-bedroom renovated home at 31 Gloucester Rd. It sold for $2.12 million, $70,000 above the reserve, through First National Epping agent Catherine Murphy.
Ms Murphy said the auction had been quite heated: “It started at $1.5 million, there was no lull and it went up in $50,000 increments.”
She said the market had softened a bit since Easter “but the results are still strong”.