Young cou­ple take a long view

The Sunday Telegraph (Sydney) - - REALESTATE -

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”.

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