Dump is cheap­est in­ner west sale

The Sunday Telegraph (Sydney) - - NEWS - STEPHEN NI­CHOLLS

EIGHTY-six-year-old Maria Ar­girou’s kitchen has seen bet­ter days but that’s un­likely to be too much of a worry to the young builder who paid the bar­gain price of $875,000 for her Mar­rickville ter­race.

The di­lap­i­dated home is be­lieved to be the cheap­est house sold in the in­ner west for five years and is be­ing seen as yet an­other sign the prop­erty mar­ket is swing­ing even fur­ther into buy­ers’ favour.

The two-bed­room crum­bling wreck at 14 Mid­dle St, which passed in for $835,000 yes­ter­day be­fore sell­ing soon af­ter, had been Ms Ar­girou’s home for 55 years be­fore she moved to a nurs­ing home.

With no chil­dren or rel­a­tives or even a lawyer rep­re­sent­ing her in­ter­ests, the 139sqm block was sold via the NSW Trus­tee and Guardian with the pro­ceeds to pay for her nurs­ing home costs.

David Dia­man­topolous, of Devine Real Es­tate, said he was un­able to of­fer buy­ers a price guide due to the gov­ern­ment rules. “Do you think if I’d been able to quote $875,000 as a price guide it would have sold for that price,” he said later.

A four-bed­room home in bet­ter con­di­tion and on a slightly big­ger block sold for $1.550 mil­lion in 2015.

With peel­ing paint, damp walls, an un­even, rot­ten floor and a mis­er­able kitchen, Mr Dia­man­topolous said he’d had “a lot of builders walk in and walk straight out”.

None­the­less, six reg­is­tered par­ties bid for the prop­erty. AUC­TION NEWS P97

The Mar­rickville ter­race.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.